In this paper, based on feedback linearization control method and using a special PI (propotational integrator) regulator (IP) in combination with a feed forward controller, a three phase induction servo-drive is speed controlled First, an observer is employed to estimate the rotor d and q axis flux components. Then, two input-output state variables are introduced to control the dynamics of torque and the magnitude of the rotor flux independently. In addition, based on the model reference adaptive system (MRAS) and the recursive least square (RLC) error techniques, the rotor time constant and the mechnical parameters (J, R) are simultaneously estimated Finally, the efficiency of the proposed method is confirmed against results from computer simulation.