Thispaper aims to investigate the quality of thin alumina films deposited on glass samples using magnetron sputtering in the reactive modulated pulsed power mode (MPPMS) and evaluate the process productivity. The aluminum target was sputtered in Ar/O2 gas mixtures with different fractions of oxygen in the total gas flow, in the fixed pulsed voltage mode. The pulse-on duration was varied between 5 and 10 ms, while the pulse-off time was 100 or 200 ms. The dependences of mass deposition rate and discharge current on the oxygen flow were measured, and the specific deposition rate values were calculated. Prepared coatings had a thicknesses of 100–400 nm. Their quality was assessed by scratch testing and by measuring density, refractory index, and extinction coefficient for different power management strategies. The strong influence of pulse parameters on the coating properties was observed, resulting in a maximum density of 3.6 g/cm3 and a refractive index of 1.68 for deposition modes with higher duty cycle values. Therefore, adjusting the pulse-on and pulse-off periods in MPPMS can be used not only to optimize the deposition rate but also as a tool to tune the optical characteristics of the films. The performance of the studied deposition method was evaluated by comparing the specific growth rates of alumina coatings with the relevant data for other magnetron discharge modes. In MPPMS, a specific deposition rate of 200 nm/min/kW was obtained for highly transparent Al2O3, without using any dedicated feedback loop system for oxygen pressure stabilization, which makes MPPMS superior to short-pulse high-power impulse magnetron sputtering (HiPIMS) modes.