Finite control set model predictive control evaluates a predefined cost function for each switching state of power converter. In addition to reference tracking term, cost function can include a term for switching frequency reduction. Small value for the weighting factor of switching reduction term cannot reduce switching frequency effectively and the great value results in reference tracking failure and increase current ripple. In this study a variable weighting factor based on current ripple is obtained and applied to the cost function. The value of weighting factor changes with the position and magnitude of reference voltage. Simulation and experimental results verify the effectiveness of proposed method.