In this paper, a novel decoupling control scheme combining least squares support vector machines (LSSVM) inverse models and 2-degree-of-freedom (DOF) internal model controllers (IMC) is employed in the decoupling control system of the bearingless permanent magnet synchronous motor (BPMSM). This scheme can be used to enhance the control properties of high-precision, fast-response, and strong-robustness for the BPMSM system, and effectively eliminate the nonlinear and coupling influence. It introduces LSSVM inverse models into the original BPMSM system to constitute a decoupled pseudo-linear system. In addition, the particle swarm optimization algorithm (PSO) is used to optimize parameters of the LSSVM, which improves its fitting ability and prediction accuracy. What is more, the internal model control scheme is used to design additional closed-loop controllers, thereby improving the robustness of the entire control system. Therefore, this scheme successfully combines the advantages of the LSSVM inverse models and the internal model controller. It can enhance the stability and the static as well as dynamic properties of the whole BPMSM system while independently adjusting the tracking and interference rejection performances. The effectiveness of the proposed scheme has been verified by simulation results at various operations.