In this paper, a 13.4 kV/55 A 4H-silicon carbide (SiC) PiN diode with a better trade-off between blocking voltage, differential on-resistance, and technological process complexity has been successfully developed. A multiple zone gradient modulation field limiting ring (MGM-FLR) for extremely high-power handling applications was applied and investigated. The reverse blocking voltage of 13.4 kV, close to 95% of the theoretical value of parallel plane breakdown voltage, was obtained at a leakage current of 10 µA for a 100 µm thick, lightly doped, 5 × 10 14 cm −3 n-type SiC epitaxial layer. Meanwhile, a fairly low differential on-resistance of 2.5 mΩ·cm 2 at 55 A forward current (4.1 mΩ·cm 2 at a current density of 100 A/cm 2 ) was calculated for the fabricated SiC PiN with 0.1 cm 2 active area. The highest Baliga's figure-of-merit (BFOM) of 72 GW/cm 2 was obtained for the fabricated SiC PiN diode. Additionally, the dependence of the breakdown voltage on transition region width, number of rings in each zone, as well as the junction-to-ring spacing of SiC PiN diodes is also discussed. Our findings indicate that this proposed device structure is one potential candidate for an ultra-high voltage power system, and it represents an option to maximize power density and reduce system complexity.