This paper presents the results of a model-based predictive control (MPC) design for a quadrotor aerial vehicle with a suspended load. Unlike previous works, the controller takes into account the hanging payload dynamics, the dynamics in three-dimensional space, and the vehicle rotation, achieving a good balance between fast stabilization times and small swing angles. The mathematical model is based on the Euler–Lagrange formulation and considers the dynamics of the vehicle, the cable, and the load. Then, the mathematical model is represented as an input-affine system to obtain the linear model for the control design. A constrained MPC strategy was designed and compared with an unconstrained MPC and an algorithm from the literature for the case of study. The constraints to be considered include the limits on the swing angles and the quadrotor position. The constrained control algorithm was constructed to stabilize the aerial vehicle. It aims to track a trajectory reference while attenuating the load swing, considering a maximum swing range of ±10∘. Numerical simulations were carried out to validate the control strategy.