This paper introduces a new approach to guidance law design using linear quadratic optimal control theory, minimizing throughout the engagement the variation of the control input as well as the integral control effort. The guidance law is derived for arbitrary order missile dynamics and target maneuvers. Explicit results are provided for a first order missile model and a constant target maneuver. It is shown that in the limiting cases the guidance law degenerates to either Contrell's minimum effort law or to a guidance law that enables mitigating saturation. The performance of the guidance law is analyzed theoretically and demonstrated on a few simulation cases. © IFAC.