A predictive direct power control (P-DPC) strategy applied on a PWM rectifier with active power filtering function is proposed based on the same topology between PWM rectifier and the shunt active power filter (APF). Taking the output voltage of AC side of rectifier as the control object, the rectifier can not only supply energy to the load, but also operate as an APF to suppress the harmonic of power grid, so that the equipment utilization is improved. This control approach is combined with the space-vector modulation (SVM). Compared to the conventional DPC, the proposed strategy is simpler because it does not need switch table and phase-lock loop and its switching frequency is fixed. The stability of the proposed control scheme is examined through Lyapunov’s direct method. Finally the control strategy is proved correct and feasible by the simulation, which shows that the control system has good dynamic performance and robustness.