Since information and communication technologies were introduced into education, the number of courses delivered in an online or blended learning (OBL) format has increased significantly. However, not all teachers are experienced in teaching in this new digital environment. While various teacher professional development (TPD) models exist, few target OBL and teachers’ change processes during professional development. Therefore, this article presents a five-phase TPD process model for OBL. The five phases of the model are (a) a need for TPD for OBL, (b) the professional development strategy, (c) the teacher change associated with OBL, (d) the recognition and appreciation of these changes, and (e) the anchoring of the changes made in the teachers’ everyday practice. The model presented can offer a valuable and new approach toward TPD for OBL and introduces the notion of digital capital into TPD for OBL.