This paper presented a seneorless deadbeat predictive current control (DPCC) based on flux tracking for high-speed permanent magnet synchronous motor (PMSM) drives. A stationary frame-based DPCC independent of rotor motion effect is first introduced. On this basis, a sensorles DPCC method, with an improved flux observer, is proposed. The amplitude-phase compensated integrator and phase-locked loop (PLL) are used to accurately estimate the rotor position, which effectively suppresses dc drift in conventional pure integrator-based flux observer. Further, the coupling effects of parameter mismatch and angle error on the current control is systematically analyzed. The steady-state current error expression is derived, revealing that the current control errors due to inductance mismatch are related to the reference current and speed, while the current control errors due to permanent magnet flux-linkage mismatch are related to the angle error and speed. Finally, the proposed sensorless DPCC method based on flux tracking and parameter mismatch analysis are validated by extensive simulations on a high-speed PMSM prototype.