Full-order state-space models represent the starting point for the development of advanced control methods for wind turbine systems (WTSs). Regarding existing control-oriented WTS models, two research gaps must be noted: (i) There exists no full-order WTS model in form of one overall ordinary differential equation that considers all dynamical effects which significantly influence the electrical power output; (ii) all existing reduced-order WTS models are subject to rather arbitrary simplifications and are not validated against a full-order model. Therefore, in this paper, two full-order nonlinear state-space models (of 11th and 9th-order in the (a, b, c)- and (d, q)-reference frame, resp.) for variable-speed variable-pitch permanent magnet synchronous generator WTSs are derived. The full-order models cover all relevant dynamical effects with significant impact on the system’s power output, including the switching behavior of the power electronic devices. Based on the full-order models, by a step-by-step model reduction procedure, two reduced-order WTS models are deduced: A non-switching (averaging) 7th-order WTS model and a non-switching 3rd-order WTS model. Comparative simulation results reveal that all models capture the dominant system dynamics properly. The full-order models allow for a detailed analysis covering the high frequency oscillations in the instantaneous power output due to the switching in the power converters. The reduced-order models provide a time-averaged instantaneous power output (which still correctly reflects the energy produced by the WTS) and come with a drastically reduced complexity making those models appropriate for large-scale power grid controller design.