In recent years a number of works have been done to extend Particle Swarm Optimization (PSO) to solve multi-objective optimization problems, but a few of them can be used to tackle binary-coded problems. In this paper, a novel modified multi-objective binary PSO (MMBPSO) algorithm is proposed for the better multi-objective optimization performance. A modified updating strategy is developed which is simpler and easier to implement compared with standard discrete binary PSO. The mutation operator and dissipation operator are introduced to improve the search ability and keep the diversity of algorithm. The experimental results on a set of multi-objective benchmark functions demonstrate that the proposed MBBPSO is a competitive multi-objective optimizer and outperforms the standard binary PSO algorithm in terms of convergence and diversity.