The control of a dc motor drive system is performed using two Proportional-Integral (PI) controllers, mostly comprising the outer (speed) and inner (torque) loops. However, the tuning of the PI controllers is challenging, because of the significant overshoot and substantial settling time. The overshoot cannot be absolutely removed without sacrificing the speediness. In this paper, an experimental implementation of Adaptive Neuro-Fuzzy Inference System (ANFIS) based high-precision controllers for a dc motor drive system is presented for eliminating the overshoot contemporaneously improving the settling time. In this regard, for fair comparison, Bode Plot method is used for obtaining most satisfactory values of Kp and Ki of both the controllers and the performance of the proposed ANFIS controllers is compared with the tuned PI controllers. For the sake of validation, an experimental setup, a 2-quadrant dc motor drive based on DS1104 R&D controller board from dSPACE is used. The designed ANFIS controllers are implemented and also authenticated using simulations. The obtained simulation as well as experimental results indicated that the ANFIS controller successfully eliminates the overshoot and significantly improves settling time. Thereby, outclass the tuned PI controllers by giving experimental results as 0% overshoot and just 0.18 s settling time.