A practical atmospheric correction algorithm, called Coupled Moderate Products for Atmospheric Correction (CMPAC), was developed and implemented for the Multispectral Camera (MUX) on-board the China-Brazil Earth Resources Satellite (CBERS-4). This algorithm uses a scene-based processing and sliding window technique to derive MUX surface reflectance (SR) at continental scale. Unlike other optical sensors, MUX instrument imposes constraints for atmospheric correction due to the absence of spectral bands for aerosol estimation from imagery itself. To overcome this limitation, the proposed algorithm performs a further processing of atmospheric products from Moderate Resolution Imaging Spectroradiometer (MODIS) and Visible Infrared Imaging Radiometer Suite (VIIRS) sensors as input parameters for radiative transfer calculations. The success of CMPAC algorithm was fully assessed and confirmed by comparison of MUX SR data with the Landsat-8 OLI Level-2 and Aerosol Robotic Network (AERONET)-derived SR products. The spectral adjustment was performed to compensate for the differences of relative spectral response between MUX and OLI sensors. The results show that MUX SR values are fairly similar to operational Landsat-8 SR products (mean difference < 0.0062, expressed in reflectance). There is a slight underestimation of MUX SR compared to OLI product (except the NIR band), but the error metrics are typically low and scattered points are around the line 1:1. These results suggest the potential of combining these datasets (MUX and OLI) for quantitative studies. Further, the robust agreement of MUX and AERONET-derived SR values emphasizes the quality of moderate atmospheric products as input parameters in this application, with root-mean-square deviation lower than 0.0047. These findings confirm that (i) CMPAC is a suitable tool for estimating surface reflectance of CBERS MUX data, and (ii) ancillary products support the application of atmospheric correction by filling the gap of atmospheric information. The uncertainties of atmospheric products, negligence of the bidirectional effects, and two aerosol models were also identified as a limitation. Finally, this study presents a framework basis for atmospheric correction of CBERS-4 MUX images. The utility of CBERS data comes from its use, and this new product enables the quantitative remote sensing for land monitoring and environmental assessment at 20 m spatial resolution.