Because　of　many　attractive　merits,　such　as　easy　realization,　excellent　dynamic　performance　and　multi-objective　regulation　capability,　model　predictive　control　(MPC)　is　widely　utilized　in　voltage　source　converters　(VSCs).　However,　when　comes　to　modular　multilevel　converters　(MMCs),　it　has　several　implementation　challenges,　such　as　heavy　computation　burden,　non-fixed　switching　frequency,　poor　steady-state　performance　and　complex　weighting　factor　determination.　Considering　these　challenges,　this　paper　developed　a　novel　modulated　MPC　method.　With　this　method,　the　optimal　modulation　references　can　be　directly　obtained　at　each　sampling　period　according　to　the　duty　cycles　of　two　fixed　voltage　levels,　and　then　be　fed　into　the　modulator　to　get　gate　signals.　Hence,　the　developed　method　is　very　easy　to　be　implemented　with　a　very　low　calculation　complexity,　independent　of　the　submodules　(SMs)　number.　The　switching　state　evaluation,　cost　function　calculation　and　weighting　factor　selection　are　eliminated　as　well.　In　addition,　this　method　has　a　satisfactory　steady-state　performance　and　equally　distributed　switching　losses.　The　effectiveness　the　proposed　method　is　verified　by　experiments.　©　2021　IEEE.