A control device for a motor drive system including an AC motor having a magnet in a rotor, a converter, and an inverter generates a step-up command value for the converter based on a torque command value for the AC motor. The control device determines whether or not to carry out field-weakening control for increasing a current in a direction weakening force of a magnet that is supplied from the inverter to the AC motor, based on the step-up command value and a state of drive of the AC motor. When field-weakening control should be carried out and when an absolute value of the torque command value is smaller than a threshold value, the control device further increases the generated step-up command value. By doing so, an amount of a field-weakening current can be decreased and therefore efficiency of the motor drive system can be improved.