In order to further improve the calculation precision and get a simpler algorithm, the Martin-Hou Equation of State is modified after rigorous data analysis data in different cases. A new revision factor h, a function of critical compression factor, is introduced into the novel M-H EOS to reduce the deviation of molar volume calculated in liquid-phase state. According to the new derivation process of the EOS, only a few number of physical properties are needed to characterize a given substance, which greatly reduced the difficulty of solution of the EOS. In order to verify the generality and the calculation precision in liquid-phase state, the novel M-H EOS has been applied to six representative substances: argon, methane, nitrogen, propane, benzene and water. Compared with the previous M-H EOS in liquid-phase state, the novel M-H EOS obviously reduces the deviation and can universally be applied to most kinds of substances.