A power conversion apparatus comprising: a power conversion circuit converting DC power into AC power to drive an induction motor; and a control unit outputting a gate pulse signal (Gpu1, Gpu2; Gpv1, Gpv2; Gpw1, Gpw2) to drive the power conversion circuit; wherein the control unit comprises a voltage operation part generating a voltage command (Vu**, Vv**, Vw**) driving the induction motor based on a current command, and a PWM operation part outputting the gate pulse signal based on the voltage command, and during cutoff from lowering to reaching zero of an excitation current command (Id*, Id**) and a torque current command (Iq*), the control unit is configured to set an excitation current command during cutoff computed by adding an excitation current command correction quantity calculated according to a time variation of an excitation current command to the excitation current command, a magnetic flux command (Phid*) during cutoff obtained by multiplying the excitation current command by a gain, and the torque current command, as the current command with respect to the voltage operation part; characterized in that: the voltage operation part is configured to generate an AC voltage command (Vu*, Vu*, Vw*) from the excitation current command during cutoff, the magnetic flux command during cutoff and the torque current command, and generates an AC current command (Iu*, Iv*, Iw*) from the excitation current command during cutoff and the torque current command, and configured to generate the voltage command by moving the AC voltage command in parallel for a fixed amount to a positive side if the AC current command is positive, and moving the AC voltage command in parallel for a fixed amount to a negative side if the AC current command is negative. a power conversion circuit converting DC power into AC power to drive an induction motor; and a control unit outputting a gate pulse signal (Gpu1, Gpu2; Gpv1, Gpv2; Gpw1, Gpw2) to drive the power conversion circuit; wherein the control unit comprises a voltage operation part generating a voltage command (Vu**, Vv**, Vw**) driving the induction motor based on a current command, and a PWM operation part outputting the gate pulse signal based on the voltage command, and during cutoff from lowering to reaching zero of an excitation current command (Id*, Id**) and a torque current command (Iq*), the control unit is configured to set an excitation current command during cutoff computed by adding an excitation current command correction quantity calculated according to a time variation of an excitation current command to the excitation current command, a magnetic flux command (Phid*) during cutoff obtained by multiplying the excitation current command by a gain, and the torque current command, as the current command with respect to the voltage operation part; characterized in that: the voltage operation part is configured to generate an AC voltage command (Vu*, Vu*, Vw*) from the excitation current command during cutoff, the magnetic flux command during cutoff and the torque current command, and generates an AC current command (Iu*, Iv*, Iw*) from the excitation current command during cutoff and the torque current command, and configured to generate the voltage command by moving the AC voltage command in parallel for a fixed amount to a positive side if the AC current command is positive, and moving the AC voltage command in parallel for a fixed amount to a negative side if the AC current command is negative.