Model predictive control has the benefits of multi-objective control, high dynamic performance, robustness and adaptability. However, the traditional model predictive control (MPC) is difficult to adjust the weighting factors and has a large calculation burden when applied to the modular multilevel converter(MMC). In this paper, a hybrid linear predictive control based on PIR-MPC is proposed to achieve both circulating current suppression and capacitor voltages balancing with guaranteed output current tracking accuracy. The control structure eliminates the weighting factors and greatly reduces the calculation burden at the same time. Finally, a small-scale model is established in the MATLAB/Simulink to evaluate the steady-state performance of the system and verify the optimization of the proposed methods.