High-frequency link matrix converter (HFLMC) can directly realize DC/AC conversion without intermediate energy storage components, reduce the power conversion stage, and improve efficiency and power density. With the conventional space vector modulation strategy, the secondary side voltage of the high-frequency transformer presents an asymmetric trapezoidal wave, which leads to the DC magnetic bias phenomenon and increases the current stress in secondary side switches. This paper proposes a novel SVM strategy for HFLMC. It optimizes the space vector distribution, makes secondary side voltage periodic and symmetric, and reduces the switching actions. The current stress is reduced, and the converter's efficiency is improved. Simulation and experiment results verify the advantages of the proposed modulation strategy.