Within the framework of the modified factorization method, we solve the Schrodinger equation with the modified Yukawa potential. The energy spectrum is obtained using the Pekeris approximation scheme for the centrifugal term. The thermodynamic properties, including the vibrational partition function, vibrational mean energy, vibrational mean free energy, vibrational specific heat capacity and vibrational entropy, are calculated. As a special case, we compare our result with that work of Dong [Int. J. Quant. Chem. 107, 366 (2007)] and find good agreement.