In the high-performance control scheme of the asynchronous motor, in order to reduce the switching loss, the optimized pulse width modulation (PWM) is used to achieve lower current harmonic distortion at low switching frequency. However, the optimized PWM will lead to current and torque shocks when the modulation mode is frequently switched. Therefore, a closed-loop stator flux trajectory tracking control method that shifts optimized pulses online is studied, and a dual observer model consisting of a reduced-order observer based on a self-controlled motor and a motor current model observer is proposed to achieve fundamental component observation. By combining the current harmonic minimum pulse width modulation (CHMPWM) switching angle, the difference between the reference flux and the real flux is reconstructed to achieve stator flux trajectory tracking. A pulse mode switching scheme is proposed when the corrected switching angle is less than 2 under the deadbeat, which eliminates the dynamic modulation error and realizes the high-performance control of the asynchronous motor at low switching frequency. The simulation and experiment on NPC type three-level inverter with switching frequency below 300 Hz prove the effectiveness of the stator flux trajectory tracking control strategy.