Virtual synchronous generator (VSG) control scheme needs accurate three-phase currents, the AC current sensor fault will greatly deteriorate the performance of conventional VSG control method. To improve the stability of VSG, this paper proposes a fault-tolerant model predictive control (MPC) method to reconstruct three-phase currents when AC current sensors fail. To solve the problem of current unmeasurable area in current reconstruction, they are analyzed and classified into two types. And virtual vectors that are not affected by these two types of area are designed. By selecting optimal voltage vector from virtual vectors, two-phase currents can be directly sampled by DC link current sensor. Then, the remaining phase current can be calculated. And the three-phase currents are obtained, the stable operation of VSG can be realized when all AC current sensors fail. Simulation verifies the effectiveness of the proposed fault-tolerant MPC method.