What I used is Brorsoft MXF Converter. With it, you not only can encode videos to Premiere MPEG-2 format, but also can transcode videos for editing in other NLEs like ProRes, Pinnacle, Avid, Windows Movie Maker and more. If you are a Mac user, pls turn to Brorsoft MXF Converter for Mac. Now, download the software on computer and start conversion.
How to Edit MXF footage in Premiere
Step One: Install and launch the MXF Converter to your PC, and then load source MXF clips to the software. You can import MXF clips to the program through "Add Video" button or "Add from folder" button.
Step Two: For encoding MXF to Premiere, please click "Format" menu firstly and then follow "Adobe Premiere/Sony Vegas" > "MPEG-2 (*.mpg)".
Tip (Optinal):In case the default settings do not fit your requirement, you can click "Settings" button and enter "Profile Settings" panel to adjust video size, bit rate, frame rate, sample rate and audio channels.
Step Three: Click the arrow button to start converting MXF to MPEG-2 for Adobe Premiere Pro.
When the conversion task is finished, click "Open" button to get the exported MPEG-2 files. Now, it's easy for you to edit MXF video files in Premiere. Enjoy!
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