Rotor magnets are critical components, which in case of fault, directly affect the performance of drives based on permanent magnet synchronous motors. Thus, monitoring the rotor magnets status is essential to ensure both high level of efficiency and service continuity. The present study focuses on the investigation of a new full-time domain-based method for the diagnosis of incipient rotor magnet demagnetization in a vector-controlled asymmetrical six-phase surface-mounted ac permanent magnet synchronous motor. The proposed strategy evaluates the rotor magnet demagnetization using a fault index derived from the control signals synthetized in the 5 th subspace, and already available in the control system platform. The main advantages of the proposed new strategy are its simplicity of implementation, and effectiveness even under time-varying operating conditions as the employed control signals in specific subspaces have a dc behavior. Extensive numerical simulations and experimental tests, carried out at different speed and load levels, have shown the validity of the proposed method, leading to an effective diagnostic procedure for a vector-controlled asymmetrical six-phase surface-mounted ac PMSM.