This article proposes a hierarchical control strategy to address semi-ABS control as well as the precise clamping force control problems for an integrated electric parking brake (iEPB) system. To this end, a detailed system model, including modeling of the motor, transmission mechanism, friction and braking torque, is constructed for controller and observer design, and a sliding-mode-based observer (SMO) is proposed to estimate the load torque by using the motor rotational speed without installing a force sensor. In addition, a stable and reliable tire–road friction coefficient (TRFC) estimation method is adopted, and the desired slip ratio (DSR) is observed as the target that the rear wheels cycle around. At the upper level of the hierarchical control structure, the desired clamping forces of the rear wheels are generated using a sliding mode control (SMC) technique, and the control objective is to track the DSR to make full use of the road condition. At the lower level, the motor is controlled to track the desired clamping force generated from the upper controller. The hardware-in-the-loop (HIL) experimental results demonstrate the effectiveness and high tracking precision of the proposed strategy under different road conditions, and the estimation parameters based on the proposed observers are timely and accurate to satisfy the control requirements.