A five-phase fault-tolerant permanent-magnet (FTPM) motor can offer high torque density, low torque ripple, and good fault-tolerant capability. In order to improve operation performance under an open-circuit fault condition, this paper proposes a new remedial field-oriented control (RFOC) strategy for a five-phase FTPM motor. The novelty of the proposed RFOC strategy lies in the orthogonal reduced-order transformation matrix, which is derived from the fault-tolerant current references, and a new zero-sequence current related to torque ripple. The pulsation of the neutral voltage can be neglected in the RFOC strategy, having no effect on the control action. Also, the effect of the open-circuit fault on the motor drive model under the transformation matrix is discussed. A five-phase FTPM motor drive is prototyped and the proposed RFOC strategy is evaluated in terms of the steady-state and dynamic performances. The simulated and experimental results are given to verify the proposed strategy.