To address the shortcomings of low DC voltage utilization and high insulated gate bipolar transistors (IGBT) loss in the three-phase voltage source inverter applied by the space vector pulse width modulation (SVPWM) drive method with constant switching frequency and rated DC bus voltage, permanent magnet synchronous motor (PMSM) and output cycle-based IGBT loss control model is established, based on which the optimal switching frequency and DC bus voltage for output cycle based IGBT loss are obtained by applying the dwarf mongoose optimization algorithm with the output current quality as the constraint and the switching frequency and DC bus voltage as the constraint variables. The proposed strategy is simulated and experimented to verify that the proposed strategy reduces loss and increases reliability while maintaining control system performance by comparing the output current total harmonic distortion (THD), current waveform and IGBT loss and junction temperature performance.