A time-domain aeroservoelastic model is developed to calculate the flutter speed and an active flutter suppression system is designed by model predictive control. Thefinite-state, induced-flow theoryandequilibrium beam finite elementmethod are chosen to formulate the aeroservoelastic governing equations in state-space form, which is necessary for active flutter suppression design with modern control theory. A sensitivity analysis is performed to find the most appropriate number of induced-flow terms and beam elements. Model predictive control theory is adopted to design an active flutter suppression system due to its ability to deal with the constraints on rate change and amplitude of input. The numerical result shows a satisfactory precision of the flutter speed prediction, the close loop analysis shows that the flutter boundary is considerable expanded.