A robust predictive fault‐tolerance control method integrating dynamic output feedback is proposed for discrete industrial processes with unmeasurable states, actuator faults, uncertainties, and external disturbances. First, a new iterative error model is developed, which extends the output tracking error to increase the freedom of controller regulation and ensure the tracking performance of the system. Second, a robust dynamic output feedback predictive fault‐tolerant controller is designed based on the preceding model. According to the Lyapunov stability theory, the robust stability criterion of the system is performed in the case of actuator faults, and the stability conditions of the system in the form of linear matrix inequality are given. The real‐time optimal control law gains are obtained by solving the stability conditions online. This method can effectively suppress the effects of actuator faults, uncertainties and external disturbances on the system with unmeasurable states, which can guarantee the tracking performance and stability of the system. The effectiveness of the proposed method is finally verified by using an injection molding process as an example.