The conventional multicarrier faster-than-Nyquist (MFTN) achieves the spectral efficiency (SE) gain by deep compression. However, deep compression leads to severe intersymbol interference (ISI) or intercarrier interference (ICI). We propose the MFTN based on efficient implementation and probabilistic amplitude shaping (PAS) to achieve the SE gain with low complexity. We use mild compression instead of conventional deep compression to achieve the compression gain. The MFTN transceiver with the mild compression can be efficiently implemented by fast Fourier transform (FFT)/inverse FFT (IFFT) and filtering operation. The linear pre-equalization (LPE) method eliminates the ISI for mild compression. The MFTN with efficient implementation employs PAS to achieve extra shaping gain. The theoretical results and simulation results show that our method can achieve better performance than the conventional FTN/MFTN with deep compression. The proposed method does not require a complex equalization algorithm and global turbo iteration so that the total complexity is reduced.INDEX TERMS Multicarrier, faster-than-Nyquist, linear pre-equalization, probabilistic shaping, mild compression.