A new generalized model predictive spread control technique is presented for the midcourse guidance of interceptors that are designed to intercept high-speed ballistic missile targets. Because of using the basis functions, this new technique is further computationally efficient over the model predictive static programming technique. Also, the smoothness of the control variable is guaranteed for the smooth basis functions. For demonstrating the performance of the proposed technique, an interceptor midcourse guidance problem with an angle constraint is formulated and solved to intercept an incoming ballistic missile target successfully. Additionally, the results are compared with those of the midcourse guidance design using the model predictive static programming technique. A comparative study of the new technique has also been conducted with the quasi-spectral model predictive static programming technique proposed earlier in the literature. It has been observed that the orthogonality of the basis functions is a necessary assumption and without that, the quasi-spectral model predictive static programming technique is not a near-optimal technique. By using the new technique based on Legendre basis functions, the solution converges to the model predictive static programming method solution by increasing the number of basis functions with less computational load.