When two-phase open-circuit fault occurs in the five-phase interior permanent magnet synchronous motor (IPMSM), the reconstructed voltage vectors are reduced in number and unevenly distributed due to the loss of two phases, which will affect the predictive precision of model predictive control (MPC). Nevertheless, the existing multi-vectors model predictive control methods lack the analysis of two-phase fault. Hence, targeting the two-phase open-circuit fault, this paper proposes a multi-vector MPC fault-tolerant method. The key of this method is to expand the combination of voltage vectors by dividing line segments in the sector triangle. Simultaneously, the process of multi-vectors selection and synthesis is simplified by deriving the reference voltage prediction and the cost function consisting of voltage errors after two-phase open-circuit fault. This method is suitable for sectors with asymmetrical shapes under fault operation and takes the unequal $d-q$ axis inductance characteristics of the interior motor into consideration. Finally, the dynamic and steady performance of this method is verified by experiments and the proposed method can realize the high quality two-phase open-circuit fault-tolerant operation of the five-phase IPMSM.