In this paper, a new path computing algorithm named as Disjoint Path Algorithm (DPA) to ensure the efficient load balancing in MPLS (Multiple Protocol Label Switching) networks to minimize the congestion and prominent use of network resources to support the traffic engineering feature of MPLS. This algorithm finds the alternate path called as Disjoint Path (DP), for selected flow sharing no common path to other flow paths. Then routing of flow via Disjoint Path is done by using the explicit path routing technology of MPLS network. Network Simulator (NS2) is used as simulator tool for analysis of the performance of algorithm. Simulation results shows that DPA effectively balances the load between the links in the network to improve the real time traffic service quality by lowering end to end delay, packet arrival time and packet drop rate and increasing throughput while reducing the congestion and improving the network utilization.