Modular multilevel converter (MMC) converter is widely used in the application of high voltage large power scenarios, but the shoot-through problem in bridge topology places MMC converter at a serious risk of capacitor short-circuit. A novel MMC converter based on dual buck circuit is designed, where the base cell of the MMC converter is not bridge circuit but dual buck circuit. MMC converter based on dual buck circuit eliminates the risk of shoot-through and reverse-recovery of body diode. The details of working principle and operating modes are analyzed. Control method based on switching of capacitor with maximum (minimum) capacitance sequence is given to realize the balancing control of capacitance voltage. Simulation results on Saber are identical with the theory, which verifies the stability of the system can be improved.