The 59-year-old was admitted to hospital last week, where tests revealed he had thrombosis of the carotid artery.
The Ukraine Football Federation had already confirmed Blokhin will miss the upcoming FIFA World Cup™ qualifiers against Moldova and Montenegro as a result of his hospital stay.
Those fixtures were due to be Blokhin's last in charge of the national team after he announced last month he is set to take over full-time at Dynamo Kiev.
Assistant coach Andriy Bal will instead lead Ukraine in Blokhin's absence. Meanwhile, the Ukraine Football Federation also played down reports that former Arsenal Kiev boss Oleksandr Zavarov will be appointed as head coach when Blokhin officially steps aside.
A statement on www.ffu.org.ua said: "Following the hospitalisation of Oleg Blokhin and the temporary appointment of Andriy Bal as acting coach, the media began to spread information that Oleksandr Zavarov will be put in charge.
"The Ukraine Football Federation wants to state that no decision has been taken on the matter and we have not even considered the issue of appointing a new head coach."