In recent years, DC distribution system has been considered as an efficient solution in Shipboard Power Systems (SPS) to improve the system performance in several aspects such as overall efficiency, reliability, security and size. However, rising fuel price, its unpredictability, growing global demand for energy and the necessity to decrease environmental pollution have led to an ever-increasing trend for using Alternative Power Sources (APSs) and Energy Storage Systems (ESSs) into Next-Generation Shipboard Power Systems (NG-SPS). In this respect, the future SPSs provide great advantages but really complicate and introduce new challenges about system security and stability. Hence, exact evaluation of system dynamic performance has become a major concern and require an effective simulation-based modeling. This paper developed a modeling approach for Medium Voltage Direct Current (MVDC) of NG-SPS using Distributed Electric Propulsion (DEP) along with lithium ion battery and Solid Oxide Fuel Cell (SOFC) as an ESS and APS, respectively. The major objective is precise assessment of system dynamic behavior under various operating states in order to take full advantage of the system over dynamic events, effectively and keep the system secure. The proposed system has been simulated in MATLAB/Simulink and the results are presented for various operational modes.