Three-phase bearingless induction motor is a multi-variable, nonlinear and strong coupling object, to achieve its high performance control, the dynamic mathematical models was analyzed firstly. According to the derived mathematical model, the reversibility of bearingless induction motor system was discussed, and the dynamic mathematical models of inverse system were derived. Then, based on the inverse system method, the dynamic decoupling control strategy of three-phase bearingless induction motor was researched, and the dynamic decoupling control system was build. Simulation results show that the dynamic decoupling control has been achieved between motor speed, rotor flux linkage and two radial displacement components, and the control system has higher dynamic and static performance; the presented decoupling control method is effective and feasible.