The report praised the Northampton college for the high standards achieved by learners at all levels and in key skills.
Leadership, financial management and governance all scored top marks from Ofsted, which also said that an education at Moulton provided "outstanding value for money".
The college principal, Chris Moody, said: "Inspectors recognised the very high success rates achieved by students."
Ofsted inspectors homed in on the college's clear strategic direction, its focus on providing courses that built on its strengths, and its high quality of communication with staff and students.
"Attempts to be both educationally and socially inclusive were applauded, and the equality of opportunity offered by the college was judged to be outstanding," said Moody.