The invention discloses a permanent magnet synchronous motor (PMSM) with two stators, a composite rotor structure and radial and axial mixed magnetic paths and a method thereof. The PMSM comprises a radial stator, an axial stator and a rotor, wherein the rotor is inserted in the radial stator and coaxially arranged with the radial stator, the axial stator is arranged on one end or two ends of the rotor, the axial stator and the rotor are concentric, a radial winding is arranged in the stator groove of the radial stator, an axial winding is arranged in the stator groove of the axial stator, a rotor groove is arranged in the rotor, a permanent magnet is placed in the rotor groove, the permanent magnet enables the rotor to generate a radial magnetic pole and an axial magnetic pole, the radial magnetic pole faces the radial stator of the motor, the axial magnetic pole faces the axial stator of the motor, and the motor generates radial and axial torques to form mixed magnetic paths. The radial magnetic flux and axial magnetic flux generated by the permanent magnet of the motor can be utilized, end portion magnetic leakage can be eliminated, the utilization rate of motor material is improved, and the weight of the motor is reduced.