In this paper, modified Laguerre matrix polynomials which appear as finite series solutions of second-order matrix differential equation are introduced. Some formulas related to an explicit expression, a three-term matrix recurrence relation and a Rodrigues formula are obtained. Several families of bilinear and bilateral generating matrix functions for modified Laguerre matrix polynomials are derived. Finally a new generalization of the Laguerre-type matrix polynomials is introduced.