Seasiders manager Jose Riga, who was only appointed last month, made the decision after seeing an exodus of 27 players from Bloomfield Road over the summer, including last season's player of the year, goalkeeper Matt Gilks.
Chairman Karl Oyston has told the few remaining players at the Sky Bet Championship club that the tour, which included two fixtures, was called off so he and Riga can bring in reinforcements.
In a statement on the club's official website, Oyston said: "The manager has taken the decision - and I agree with the decision - to cancel the pre-season tour so that our time is better served to try and get some of the player deals that we've been trying to get over the line for some time across the line.
"Our time will be far better spent preparing here than going over to Spain.
"I've spoken with the chairman of the supporters' association, as I do with most things, about the decision because certain people no doubt booked to go across and follow the two games.
"We'll look to fairly deal with that issue."