Steady-state visual evoked potential (SSVEP)-based brain-computer interfaces (BCIs) have received significant attention owing to their high information transfer rate (ITR) and low training requirements. Previous SSVEP-based BCIs mostly adopt the stationary visual flickers where only a few studies have explored the effect of moving visual flickers on the SSVEP-BCI. In this study, a novel stimulus encoding method based on the simultaneous modulation of luminance and motion was proposed. We adopted the sampled sinusoidal stimulation method to encode the frequencies and phases of stimulus targets. In addition to luminance modulation, at the same time, visual flickers also moved horizontally towards right and left at different frequencies (i.e., 0, 0.2, 0.4, and 0.6 Hz) following a sinusoidal function. Accordingly, a nine-target SSVEP-BCI was built to evaluate the influence of motion modulation on the BCI performance. Filter bank canonical correlation analysis (FBCCA) approach was adopted to identify the stimulus targets. Offline experimental results of 17 subjects revealed that the system performance decreased with the increase of superimposed horizontal periodic motion frequency. Our online experimental results showed that the subjects achieved 85.00 ± 6.77 % and 83.15 ± 9.88 % accuracy for the superimposed horizontal periodic motion frequencies of 0 and 0.2 Hz, respectively. These results verified the feasibility of the proposed systems. In addition, the system with 0.2 Hz horizontal motion frequency provided the best visual experience for subjects. These results indicated that moving visual stimulus can provide an alternative option for SSVEP-BCIs. Furthermore, the proposed paradigm is expected to develop a more comfortable BCI system.