Multicarrier navigation modulation is a trend within next-generation global navigation satellite systems (GNSS) aiming to enhance navigation performance, but it forces amplifiers to work in nonsaturation zones, resulting in low power efficiency. This paper presents constant-envelope multiplexing (CEM) based on clipping to overcome the low transmission efficiency of orthogonal multi-binary offset carriers (OMBOCs). The clip constant-envelope OMBOC (CCE-OMBOC) features a hard limit for the original OMBOC signal, and its cross-correlation function (CCF) has a fixed ratio with the CCF of the original OMBOC. Thus, the clipping process has no adverse effect on navigation performance. Additionally, the expression of transmission and multiplexing efficiency is presented according to OMBOC’s amplitude distribution. A low sampling rate is suggested for the CCE-OMBOC, which reduces the cost of signal generation. For OMBOC, the CCE-OMBOC provides multiplexing efficiency comparable to that of constant-envelope multiplexing via intermodulation construction (CEMIC). CCE-OMBOC has a straightforward generation process; in contrast, the complexity of CEMIC rises significantly with increasing subcarriers. Moreover, the CCE-OMBOC is a multicarrier CEM modulation tool that has good tracking performance and excellent compatibility. The greater the number of subcarriers, the more navigation services and the higher the navigation data rate. The CCE-OMBOC can be used in next-generation GNSS and integrated communication and navigation systems.