Abstract: In order to design high-performance satellite navigation signals for new frequencies, a novel MSK-based modulation MSK-DBOC (Minimum Shift Keying - Double Binary Offset Carrier) was presented. The general mathematical frame of the MSK-DBOC modulation was demonstrated. The theoretical derivations of the power spectral density (PSD) and the autocorrelation function (ACF) of the MSK-DBOC modulated signals were introduced. Then, the relationship between MSK-BOC modulation and MSK-DBOC modulation was analyzed. Finally, comparison between the performances of MSK-DBOC modulated signals and MSK-BOC modulated signals were given. The results indicate that the MSK-DBOC modulation can provide better performance in terms of code tracking accuracy, anti-jamming quality and compatibility, although the out-of-band loss is greater. MSK-DBOC is a feasible modulation for GNSS (Global Navigation Satellite System).