19-year-old Feruz spent the first-half of the season on loan with Greek side OFI Crete, but returned to Stamford Bridge a few weeks ago.
He has since been linked with a move to Championship side Cardiff City by the Mail, but the official Chelsea website has now confirmed that the young forward has agreed a loan deal with Blackpool that will keep him with the Seasiders until early May.
A Scottish youth international, Feruz was part of the Chelsea Under-18 side who came second in the Next-Gen series in 2013 - joint top scoring in the competition - as well as winning the 2012 FA Youth Cup, and the Under-21 Premier League last term.
Feruz has 18 goals in 37 games at Under-21 level, and the former Celtic striker will be looking to improve Blackpool’s fortunes in front of goal. The Championship bottom club are the lowest scorers in the division, having netted just 19 times in 25 games, and this has attributed to their low placing in the league table.
Three wins and eight games have rewarded the club with just 17 points, and they sit eight points behind Leeds United, and survival in the second tier.
During his spell with Crete in the Greek Super League, Feruz made just three appearnces and failed to find the back of the net. Before returning to Chelsea, he had not made a competitive appearance since October 30.