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At the Blanco transform fault system (BTFS) off Oregon, 138 local earthquakes and 84 double‐couple focal mechanisms from ocean‐bottom‐seismometer recordings jointly discussed with bathymetric features reveal a highly segmented transform system without any prominent fracture zone traces longer than 100 km. In the west, seismicity is focused at deep troughs (i.e., the West and East Blanco, and Surveyor Depressions). In the east, the BTFS lacks a characteristic transform valley and instead developed the Blanco Ridge, which is the most seismically active feature, showing strike‐slip and dip‐slip faulting. Sandwiched between the two main segments of the BTFS is the Cascadia Depression, representing a short intra‐transform spreading segment. Seismic slip vectors reveal that stresses at the eastern BTFS are roughly in line with plate motion. In contrast, stresses to the west are clockwise skewed, indicating ongoing reorganization of the OTF system. As we observed no prominent fracture zones at the BTFS, plate tectonic reconstructions suggest that the BTFS developed from non‐transform offsets rather than pre‐existing transform faults during a series of ridge propagation events. Our observations suggest that the BTFS can be divided into two oceanic transform systems. The eastern BTFS is suggested to be a mature transform plate boundary since ∼0.6 Ma. In contrast, the western BTFS is an immature transform system, which is still evolving to accommodate far‐field stress change. The BTFS acts as a natural laboratory to yield processes governing the development of oceanic transform faults. Plain Language Summary: The Blanco transform fault system (BTFS) northwest off the coast of Oregon is seismically very active. We used 1 year of ocean bottom seismometer data collected between September 2012 and October 2013 to locate 138 local earthquakes. The events align perfectly with the morphologic features of the BTFS, dividing the BTFS into five transform segments and two short intra‐transform spreading centers. Furthermore, we observe different seismotectonic behaviors of the western and eastern BTFS based on the along‐strike variation in morphology, magnetization, focal depth distribution, and strain partitioning. Although many segmented oceanic transform systems were formed from a single transform fault in response to rotations in plate motion, the BTFS turns out to be originated from non‐transform offsets between ridge segments, as we observed no prominent fracture zone traces neither in morphology nor gravity field data. A clockwise shift in the Juan de Fuca/Pacific pole of rotation at ∼5 Ma followed by a series of ridge propagation events initiated the formation of the BTFS, integrated each segment of the BTFS by shortening the ridge segments in between. Our observations suggest that the Blanco Ridge and the Gorda transform segment in the eastern BTFS were formed at ∼1.6 and 0.6 Ma, respectively, and ever since, the eastern BTFS became a mature transform boundary. In contrast, seismic slip vectors comparing to plate motion directions reveal that stresses in the western BTFS are systematically skewed, suggesting the immature transform plate boundary is still adjusting to the new stress regime. Key Points: Local seismicity of the Blanco transform fault system (BTFS) reveals along‐strike variations dominated by strike‐slip and oblique dip‐slipThe BTFS developed from non‐transform offsets rather than discrete transform faults in response to plate rotation and ridge propagationThe BTFS consists of a mature plate boundary in the east and an immature system in the west, separated by a central spreading center [ABSTRACT FROM AUTHOR]