In this paper, a nonlinear feedback linearizing model predictive excitation control scheme is proposed for synchronous generators in a single machine power system. The proposed control scheme is employed by considering two-axis models of synchronous generators while considering the dynamic of an IEEE Type-II excitation system. The partial feedback linearization scheme is used to augment single machine power systems in the form of reduced-order linear systems. A receding horizon-based continuous-time model predictive control scheme is then employed to obtain linear control inputs for feedback linearized power systems with single machine. The effectiveness of the proposed control scheme is evaluated on a single machine infinite bus (SMIB) power system under different operating conditions. Comparisons, with a partial feedback linearizing linear quadratic regulator (LQR) controller, are also provided in this paper to further demonstrate the superiority of the proposed scheme.