An operating point control method is proposed for the Mach-Zehnder modulator (MZM) based on a dual-cascaded MZM structure. Unlike traditional methods with dither signals, the proposed method is advantageous because the components monitored in the control process are not masked by the spectrum noise floor and the drift direction is clearly determined at the quadrature point, thus imparting greater control stability. Additionally, the proposed control method is suitable for phase-shift laser range finders (PSLRFs). Compared with traditional methods, experimental results reveal that the proposed method increases the operating point stability of MZM from ±0.59° to ±0.36° within 2 h, resulting in better ranging stability than 17 μm in 1 min and 39 μm in 1 h in a PSLRF with a 200 MHz modulation frequency.