With increasing energy demand, the use of renewable energy resources is increasing. Renewable energy sources require power electronic converters to get integrated into power grids. Multi‐terminal high voltage direct current (MT‐HVDC) systems are a promising solution for their grid integration. Using droop‐based controller strategies in power converter stations of MT‐HVDC grid, in addition, to providing power‐sharing, can support the frequency of the connected AC grids. However, power changes lead to direct voltage deviations, thereby disrupting the stability of the MT‐HVDC system. Here, a new control structure for the droop controller of the voltage source converter (VSC) controller is proposed which is named modified droop controller (M‐Droop). This method, in addition to power‐sharing, uses an appropriate control action to provide the required voltage stability. Here, analytical studies of the modified control strategy are reported. Moreover, through a developed MATLAB Simulink platform, its performance is verified in the events of transients, consisting of fault, variable load, and change in power generation.