In this work, we report a linearity-enhanced dual-parallel Mach–Zehnder modulator (MZM) on a thin-film lithium niobate platform. By setting the optical and electrical splitting ratios at a specific condition, the third-order intermodulation distortions (IMD3) of the child MZMs cancel with each other, whereas the first-order harmonics (FH) reach the maximum. Passive devices instead of thermo-optical switches are used to control the optical power and phase of the child MZMs, which greatly improve the device stability and simplify the operation complexity. To the best of our knowledge, the experimental results show a record-high spurious-free dynamic range on a thin-film lithium niobate platform (110.7 dB·Hz2/3 at 1 GHz). The E-O response decayed about 1.9 dB from 10 MHz to 40 GHz, and the extrapolated E-O 3 dB bandwidth is expected to be 70 GHz. A half-wave voltage of 2.8 V was also achieved. The proposed modulator provides a promising solution for high-bandwidth and low-voltage analog optical links.