The Environment Audit Committee inquiry will look at how such an economy could be built. It will also assess important marine issues such as climate change, plastic pollution and overfishing.
The inquiry will encompass both the waters off the coast of the UK and those of its Overseas Territories.
Committee chairwoman Mary Creagh MP, told Sky News: “The ocean plays a critical role in the daily lives of billions of people who live by it and whose livelihoods depend on it. Today it is suffering from pollution and plastic waste, climate change and acidification, as well as growing demands on its resources.
“Our inquiry will shine a spotlight on the threats to our ocean, and ask what more the Government could be doing to protect it. We will look at emerging marine industries, and how the Government can build a sustainable blue economy.”
Last week, the Government announced its plan to ban plastic straws, stirrers and cotton bud stems in a bid to reduce plastic pollution.