An Induction motor driving controller, with the aim of the reduction of energy consumption and minimum input power, has been developed. The shaft torque is calculated using the rotor flux and torque current component and then it is applied into the control system. For the purpose of energy saving, the magnetizing current is so determined that the required torque is produced at a maximum efficiency. A current regulator ensures the adaptability of the actual magnetizing current with its reference value; this results in the production of a stable torque at any desired load torque, even during the transient periods. According to simulation results, this controller can be suitable for drive systems of elevators and electric vehicles.