It is bottled in Shetland from four Speyside and one Islay cask strength single malts and diluted to 47% ABV with Unst water.
The firm also produces two gins - Shetland Reel Gin and Ocean Sent.
Director Stuart Nickerson said: “This blended malt whisky follows on from the success of our Shetland Reel Single Malt Scotch Whisky, all 172 bottles of which sold out prior pre-launch.
“Our ‘Bottled in Shetland’ Scotch whiskies are precursors to us installing our own whisky still and distilling Unst whisky.
“The blend is a limited edition, with 1,800 bottles available, priced at £45. As with the single malt, we anticipate a great deal of interest.”
The whisky was launched by VisitScotland chief executive Malcolm Roughead.
He said: “The whisky sector generates £3.3 billion directly to the UK economy and 1.1 million visits were recorded to distilleries in Scotland during 2013, so it is a vitally important part of our tourism offering.
“In Scotland’s Year of Food and Drink, it is great to see businesses like The Shetland Distillery Company expanding their offering which, in turn, can attract more visitors to the area.
“The Year of Food & Drink 2015 celebrates the role that food and drink plays in shaping our tourism industry and raises awareness of Shetland’s tourism industry, as well as the provenance of the outstanding local produce on offer.
“Tourism in Shetland has a ripple effect that touches every industry, business and community throughout the islands.”
Mr Nickerson has a 35-year pedigree in the Scotch malt whisky industry, having managed several distilleries and revived Glenglassaugh Distillery before selling it to the BenRiach Group.
He and his wife Wilma own The Shetland Distillery Company along with Frank and Debbie Strang, owners of the Saxa Vord Resort.