This paper proposes an adaptive fuzzy double compound manifold sliding mode observer (DCM-SMO) to indirectly obtain the speed and position information of the motor for speed sensorless control of induction motors (IM). Firstly, the mathematical model of the induction motor is established. Secondly, two compound manifolds are designed to construct a DCM-SMO and the system stability is proved. Then, sigmoid function is introduced to replace the sign function, and fuzzy logic control is accustomed to adjusting its boundary thickness to improve the chattering phenomenon of the SMO, thereby improving the speed estimation accuracy of the observer. Finally, MATLAB/SIMULINK is used to build a sensorless control system for simulation, which demonstrates the accurate speed tracking capability of this method for induction motors.