We demonstrate an electrically tunable ultracompact plasmonic modulator with large modulation strength (>10 dB) and a small footprint (~1 μm in length) via plasmon-induced transparency (PIT) configuration. The modulator based on a metal-oxide-semiconductor (MOS) slot waveguide structure consists of two stubs embedded on the same side of a bus waveguide forming a coupled system. Heavily n-doped indium tin oxide (ITO) is used as the semiconductor in the MOS waveguide. A large modulation strength is realized due to the formation of the epsilon-near-zero (ENZ) layer at the ITO-oxide interface at the wavelength of the modulated signal. Numerical simulation results reveal that such a significant modulation can be achieved with a small applied voltage of ~3V. This result shows promise in developing nanoscale modulators for next generation compact photonic/plasmonic integrated circuits.