An Improved Speed Loop (ISL) and Extended State Observer (ESO) strategy based on Model Predictive Control (MPC) of the Permanent Magnet Synchronous Motor (PMSM) is proposed in this paper. Firstly, considering the impact of load torque sudden changes on speed tracking performance, a reduced-order Luenberger observer is utilized to observe the load torque and combine with model prediction to form ISL. Secondly, the ESO is utilized to estimate the lumped disturbance and feedforward compensated to the improved speed loop, which improves the system's anti-interference performance. Then, a cost function that introduces the current tracking error at the switching point is constructed, reducing the current ripple. Finally, the experiments show that compared with the traditional PI speed control, the proposed strategy reduces the speed overshoot over a wide range of speeds, improves the speed tracking performance, and has superior dynamic performance and anti-disturbance performance under different operating conditions.