Objectives: The unprecedented COVID-19 pandemic has intensified the stress on blood banks and deprived the blood sources due to the containment measures that restrict the movement and travel limitations among blood donors. During this time, Malaysia had a significant 40% reduction in blood supply. Blood centers and hospitals faced a huge challenge balancing blood demand and collection. The health care systems need a proactive plan to withstand the uncertain situation such as the COVID-19 pandemic. This study investigates the psychosocial factors that affect blood donation behavior during a pandemic and aims to propose evidence-based strategies for a sustainable blood supply. Study design: Qualitative design using focus group discussion (FGD) was employed. Methods: Data were acquired from the two FGDs that group from transfusion medicine specialists (N = 8) and donors (N = 10). The FGD interview protocol was developed based on the UTM Research Ethics Committee’s approval. Then, the data was analyzed using Nvivo based on the General Inductive Approach (GIA). Results: Analysis of the text data found that the psychology of blood donation during the pandemic in Malaysia can be classified into four main themes: (i) reduced donation; (ii) motivation of donating blood; (iii) trends of donation; and (iv) challenges faced by the one-off, occasional, and non-donors. Conclusions: Based on the emerging themes from the FGDs, this study proposes four psycho-contextual strategies for relevant authorities to manage sustainable blood accumulation during the pandemic: (1) develop standard operating procedure for blood donors; (2) organize awareness campaigns; (3) create a centralized integrated blood donors database; and (4) provide innovative Blood Donation Facilities.