The reconstruction with minimized dispersion and controllable dissipation(MDCD) optimizes dispersion and dissipation separately and shows desirable properties of both dispersion and dissipation.A low dispersion finite volume scheme based on MDCD reconstruction is proposed which is capable of handling flow discontinuities and resolving a broad range of length scales.Although the proposed scheme is formally second order accurate,the optimized dispersion and dissipation make it very accurate and robust so that the rich flow features encountered in practical engineering applications can be handled properly.A number of test cases are computed to verify the performances of the proposed scheme.