The traditional single current sensor control strategy of a permanent magnet synchronous motor (PMSM) often adopts the DC bus method, which makes it difficult to eliminate the blind area of current reconstruction. Therefore, a current reconstruction method based on a sliding mode observer is proposed. Based on the current equation of the motor, the method takes the α-axis and β-axis currents as the observation objects and shares the same synovial surface, so that the α-axis current observation value and the β-axis current observation value converge to the actual current value at the same time and the unknown β-axis current information is obtained. The control system first tests the performance of the motor under different working conditions when the parameters are matched, and then tests the current reconstruction ability of the parameter mismatch. The results show that the current observer with a matched parameter can accurately and quickly reconstruct the β-axis current under various operating conditions, and the maximum current error does not exceed 4 mA. When the parameters are mismatched, high-performance control of the motor can still be achieved. The proposed method has excellent robustness.