Finite control set-model predictive control (FCS–MPC) has a simple and intuitive optimization procedure. Therefore, FCS–MPC is increasingly being applied to control strategies for electrical drive systems. This article presents a method for servo brake control of a permanent magnet synchronous motor (PMSM) based on FCS–MPC. Accordingly, we propose a reference trajectory introduced in a cost function for brake motions and an alternating procedure with speed control. Moreover, this article clarifies the problem peculiar to servo-brake control using FCS–MPC, i.e., the reduction in tracking performance near the brake position because of the low resolution of the output voltage. In addition to the conventional method, a finite number of smoothed voltages were applied as candidate voltages for FCS–MPC to improve the tracking performance near the brake position. The smoothed voltages can effectively increase the resolution of the output voltage, which results in fewer steady-state errors in angular position tracking during servo brake motion. The simulation and experimental results obtained using a PMSM drive system reveal that the proposed strategy exhibited high performance in tracking the reference target during the operation of servobrakes and the ability to seamlessly alternate between servo brake and motor operations.