In this paper, an ultra-wideband balanced filtering power divider (B-FPD) with high common mode (CM) suppression level is proposed. The B-FPD is designed based on the odd mode spoof surface plasmon polaritons (SSPPs), which are constructed by the hybrid folded microstrip and slotline (HFMS) structure. Firstly, the dispersion characteristic and electric field distribution of the HFMS SSPP unit cell are investigated, which can decrease the upper cut-off frequency for size reduction of nearly 50%. Next, an equal balanced power divider with low cut-off frequency is proposed based on the microstrip-to-slotline transition structure and slotline Y-junction. Then, the balanced power divider is used to excite the odd mode of HFMS SSPP structure. An equal B-FPD with center frequency of 4.0 GHz is implemented, and the 3-dB bandwidth covers 0.9 to 7.0 GHz. Finally, the B-FPD with advantages of high CM suppression level and compact size is fabricated and measured.