Two decades ago, Ngai and Wang introduced a well-known finite type condition (FTC) on the self-similar iterated function system (IFS) with overlaps and used it to calculate the Hausdorff dimension of self-similar sets. In this paper, inspired by Ngai and Wang’s idea, we define a new FTC on self-affine IFS and obtain an analogous formula on the generalized dimensions of self-affine sets. The generalized dimensions raised by He and Lau are used to estimate the Hausdorff dimension of self-affine sets.