In this article, we deal with finite‐time optimal control of the Euler–Lagrange (E–L) multi‐body mechanism under: uncertain its kinematics and dynamics, displacement blocking of the damaged joint caused by the actuator failure, undesirable forces/torques exerted on the end‐effector and unknown friction forces originating from joints directly driven by the actuators, as well as completely unstructured forces arising from the kinematic singularities appearing on the mechanism trajectory. Based on the suitably defined task space non‐singular terminal sliding manifold and the Lyapunov stability theory, we propose a class of new fault tolerant estimated generalized Jacobian controllers, which seem to be effective in reducing (minimizing) the joint velocity jumps as well as in counteracting the unstructured forces/torques. On account of the fact, that the multi‐body mechanism is a redundant one, a useful criterion function (energy consumption manipulability measure) has been utilized in our controller to temporarily optimally track a desired trajectory. The proposed controllers' performance is demonstrated by computer simulations conducted on a redundant manipulator in conditions of unexpected actuator failure and the corresponding joint lock. Additionally, numerical comparisons are also provided with other representative controllers, found in the literature.