Model predictive control (MPC) has drawn a considerable amount of attention in automotive applications during the last decade, partially due to its systematic capacity of treating system constraints. Even though having received broad acknowledgements, there still exist two intrinsic shortcomings on this optimization-based control strategy, namely the extensive online calculation burden and the complex tuning process, which hinder MPC from being applied to a wider extent. To tackle these two drawbacks, different methods were proposed. Nevertheless, the majority of these approaches treat these two issues independently. However, parameter tuning in fact has double-sided effects on both the controller performance and the real-time computational burden. Due to the lack of theoretical tools for globally analyzing the complex conflicts among MPC parameter tuning, controller performance optimization, and computational burden easement, a look-up table-based online parameter selection method is proposed in this paper to help a vehicle track its reference path under both the stability and computational capacity constraints. matlab-carsim conjoint simulations show the effectiveness of the proposed strategy.