In order to further improve the accuracy in liquid-phase state and get a simpler algorithm, the Martin-Hou Equation of State is modified after rigorous data analyses in different cases. A new revision factor h, a function of critical compression factor, is introduced into the novel M-H EOS. According to the derivation of the new EOS, only a few number of physical properties are needed to characterize a given substance, which greatly reduced the difficulty of the solution about the EOS. The novel M-H EOS is applied to argon, methane, nitrogen, propane, benzene and water to verify the applicability and the accuracy in liquid-phase state. The overall average deviation for the six substance is 1.29% by the novel M-H EOS; as a comparison, the overall average deviation is 2.51% by Hou's M-H EOS, the novel M-H EOS obviously reduces the deviation and can universally be applied to most kinds of substances.