The role was portrayed by John Forsythe from the first episode of the series in 1981 until the finale in 1989. Forsythe returned for the 1991 miniseries Dynasty: The Reunion. Forsythe is the only actor to appear in every episode of the series.
Patriarch of the Carrington family and self-made CEO of monolithic Denver-Carrington, oil tycoon Blake Carrington is initially a ruthless man in both business and family matters. The character soon softens into a more benevolent patriarchal figure due to the influence of actor Forsythe.
The mystery witness is Blake's ex-wife, Alexis. She testifies to Blake's violent temper. He is found guilty, but given a suspended sentence. While Blake struggles to save Denver-Carrington from financial troubles, he is thrilled to learn that Krystle is pregnant. Krystle loses her baby in a horse riding accident. Blake suggests that Krystle meet with his friend, psychiatrist Nick Toscanni. Later, Blake is blinded after mobster Logan Rhinewood bombs his car. Blake suspects that Krystle is having an affair with Nick, so after his sight returns he continues to feign blindness in order spy on her. In the season finale, he confronts Nick. The men are on horseback, and Blake is thrown from his horse. Nick leaves him unconscious on the ground.
Blake mourns the death of his daughter, Fallon. Blake also learns that he has a half-sister, Dominique. He accepts his sister after his father, Tom Carrington, admits on his deathbed that she is his daughter.
A few months later, Blake learns that Alexis had another child after they divorced, a daughter Amanda. Although Alexis denies that he is Amanda's father, he learns that she is, in fact, his daughter.
At Christmas, Blake is thrilled when Krystle has a baby girl. Although her health is fragile at first, she survives and thrives.
Blake grows jealous of Krystle's friendship with Daniel Reece. Meanwhile, Lady Ashley Mitchell attempts to seduce Blake. Someone has photos taken of both Blake with Ashley and Krystle with Daniel and has them sent to each other. However, both Blake and Krystle declare their love for each other.
When Amanda falls in love with Prince Michael of Moldavia, Blake's entire family joins him for the wedding. Unfortunately, rebels storm the wedding a spray the chapel with bullets.
Blake and his family survive the attack. Upon returning to Denver, Blake enters a business deal with Jason Colby and is shocked to discover that Fallon is alive, suffering from amnesia, and married to his son, Miles. Blake's health starts to deteriorate and he becomes almost completely incapacitated. It turns out that Krystle has been kidnapped and replaced with a look-alike, Rita. When the truth is exposed, Rita disappears and Krystle returns. Blake is furious when his brother Ben returns to Denver. In league with Alexis, he sues for his share of their late father's estate. He mortgages his house and holdings on the hope that he will win lucrative South China Sea oil leases. Thanks to Ben and Alexis's interference, he loses everything. In the season finale, he learns that Alexis has bought his house. Furious, he grabs her by the throat and starts to strangle her.
Krystle pulls Blake off of Alexis. Blake learns that his hotel, La Mirage, has burned down. Blake is charged with arson, but eventually the charges are dropped. Blake, Alexis, and Ben are in southeast Asia visiting an oil rig when it catches on fire. Blake rescues a trapped Ben moments before the rig explodes. Blake awakens in the hospital with no memories of the last 25 years. Alexis has him discharged from the hospital and convinces him that they're still married. However, when Krystle finds them, Blakes memories return. Blake and Krystle's daughter, Krystina, falls ill and needs a heart transplant. A donor is found, Krystina is fine, but the donor's mother kidnaps Krystina. However, she is found unharmed. In the season finale, at Adam's wedding, Blake and Alexis legally adopt Adam.
A body is found at the bottom of a lake on the Carrington property. The dead body turns out to be Roger Grimes, the man with whom Alexis was sleeping when she and Blake divorced. He had been dead for 20 years but the cold temperatures in the lake preserved his body. Ultimately, it is revealed that 8-year-old Fallon had shot Roger Grimes after finding him beating Alexis, and Blake's late father had hid the body in a mine under the lake to protect Fallon. The situation is complicated by the fact that the mine is full of stolen Nazi treasure, hidden there by Blake's late father. Roger's body had been disturbed from its hiding place by someone looking for the treasure.
In the last episode of the series, Blake learns that the police captain investigating the murder of Roger Grimes is behind the search for the treasure. Blake attempts to force a confession. The captain pulls a gun, and they both shoot. Blake is left lying in a pool of blood.