This chapter develops a finite-time fault-tolerant control (FTFTC) framework to realize system stabilization and trajectory tracking. Paralleling to state-space theory, the fully actuated system (FAS) theory contains rich controller design methods. Most existing FAS approaches can only yield general asymptotic stability. In order to improve the feasibility of FAS approaches in rapid control systems, a parametric FAS stabilization controller based on the homogeneity principle is presented for finite-time stability. Further, a finite-time observer-based FAS tracking controller is structured for faulty FASs. The finite-time observer can yield zero-value convergence of state estimation error and fault estimation error, and the proposed FTFTC framework can give zero-value convergence of the error system in a finite time. The main results are proved theoretically and illustrated experimentally.