The nonlinear model predictive control algorithms for plasma current and shape stabilization are proposed. Such algorithms are quite suitable for the situations when the plant to be controlled has essentially nonlinear dynamics. Besides that, predictive model based control algorithms allow to take into account a lot of requirements and constraints involved both on the controlled and manipulated variables. The significant drawback of the algorithms is that they require a lot of time to compute control input at each sampling instant. In this paper the model predictive control algorithms are demonstrated by the example of plasma vertical stabilization for ITER-FEAT tokamak. The tuning of parameters of algorithms is performed in order to decrease computational load.