This study developed a realization of sensorless control for a permanent magnet synchronous motor (PMSM) using a field-programmable gate array (FPGA). Both position and speed were estimated using a high-frequency (HF) injection scheme. Accurate estimation is essential to ensure the proper functioning of sensorless motor control. To improve the estimation accuracy of the rotor position and reduce the motor speed ripple found in conventional methods, a new extraction strategy for estimating the rotor position and motor speed is proposed. First, signal modulation compensation was applied to expand the information of the error function in order to provide more accurate data to the tracking loop system for rotor position extraction. Second, to minimize the motor speed ripple caused by the HF injection, motor speed estimation was performed after obtaining the rotor position information using a differential equation with a low-pass filter (LPF) to avoid the direct effect of the injected signal. Verified experimentally, the results showed that the rotor position error did not exceed 10 el.deg, so these methods effectively reduce the rotor position estimation error by about 30%, along with the motor speed ripple. Therefore, better performance in sensorless PMSM control can be achieved in motor control applications.