This paper presents the design and simulation validation of a multivariable GPC (generalized predictive control) for AUV (autonomous underwater vehicle) in vertical plane. This control approach has been designed in the case of AUV navigating with low speed near water surface, in order to restrain wave disturbance effectively and improve pitch and heave motion stability. The proposed controller guarantees compliance with rudder manipulation, AUV output constraints, and driving energy consumption. Performance index based on pitch stabilizing performance, energy consumption, and system constraints is used to derive the control action applied for each time step. In order to deal with constrained optimization problems, a Hildreth’s QP procedure is adopted. Simulation results of AUV longitudinal control show better stabilizing performance and minimized energy consumption improved by multivariable GPC.