Mr Blinken made his comments during a meeting with Israeli President Isaac Herzog on Monday during his ninth trip to the region since the war began in October.
The US has expressed optimism about a deal since talks resumed in Doha last week, but Hamas says suggestions of progress are an "illusion", with differences said to include whether Israeli troops will be required to withdraw fully from Gaza, as Hamas insists.
Mr Blinken is expected to maintain pressure on Israeli Prime Minister Benjamin Netanyahu when they meet later on Monday.
"We're working to make sure that there is no escalation, that there are no provocations, that there are no actions that in any way could move us away from getting this deal over the line, or, for that matter, escalating the conflict to other places, and to greater intensity,” Mr Blinken said during his meeting with Mr Herzog.
"This is my ninth visit since October 7, to Israel, to the Middle East, and this is a decisive moment, probably the best, maybe the last opportunity to get the hostages home, to get a ceasefire and to put everyone on a better path to enduring peace and security."
The current negotiations are based on a modified proposal presented by the US, aimed at bridging long-standing gaps between Israel and Hamas.
AzVision.az