Background & Objective: Blended learning is the thoughtful integration of e-learning and face-to-face learning, which has been accepted in the field of medical education. Given the importance and complexity of this novel educational system, this study aimed to recognize and gain an in-depth understanding of the factors and dimensions affecting the effectiveness of blended learning based on the experiences of stakeholders in this area. Materials and Methods: In this qualitative research, content analysis approach was applied. Subjects included seven faculty members of Iran University of Medical Sciences with a history of teaching through virtual education systems for a minimum of two years and eight MSc students in medical disciplines, selected by convenience sampling. Data analysis was performed applying the seven-step Colaizzi method. Results: In this study, five categories, including student capabilities, teacher competencies, technical aspects, pedagogical field, and supportive environment, and 40 subcategories were obtained. Conclusion: The importance of teaching-learning and increasing demand for access to education from one hand and emphasis on the effectiveness of education from the other hand are among the major challenges of all educational systems. According to the results of the study, the desirable position of this type of training could be found by the fundamental review of acceptance of students and professors and providing the necessary technical facilities.