The key role of autonomous systems in future space missions has made model predictive control a very attractive guidance and control technique. However, the capability of low-power spacecraft processors to handle the real-time computational load of this technique still needs to be fully established, especially for complex control problems. This paper introduces a method to improve the computational efficiency of model predictive control when applied to the problem of autonomous rendezvous and proximity maneuvering using low-thrust propulsion. To ensure safe trajectories in this scenario, a long control horizon is required and the control problem must be solved at a relatively fast sampling rate. The proposed design addresses such requirements by parameterizing the thrust profile with a set of Laguerre functions. In this setting, the number of control variables can be made significantly smaller than the length of the control horizon, as opposed to standard design methods. By exploiting this property, in combination with multiparametric programming techniques, an explicit control law is derived that is suitable for real-time implementation on simple hardware. The performance of this approach is demonstrated on a small spacecraft mission and compared with that of other control techniques.