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Born and raised in New Jersey, Blumenkrantz is a graduate of Northwestern University. His acting credits include roles in such Broadway productions as Into the Woods (1987), The Threepenny Opera (1989), Damn Yankees (1994), How to Succeed in Business Without Really Trying (1995), and A Class Act (2001), as well as appearances in such television shows as Will & Grace, 30 Rock, The Good Wife, Ugly Betty, Just Shoot Me!, and Law & Order.
In 2000, noted Broadway actress and recording artist Audra McDonald included Blumenkrantz's song "I Won't Mind" on her CD, How Glory Goes. This lullaby (with lyrics by Annie Kessler and Libby Saines) has become a staple of McDonald's repertoire. Blumenkrantz also contributed a piece to The Seven Deadly Sins, a song cycle commissioned by Carnegie Hall for the singer. His comic song, "My Book," addressed the sin of sloth.
In 2005-2006, he created and hosted The Jeff Blumenkrantz Songbook Podcast, a weekly podcast featuring the songs from his songbook, occasional additional episodes of which were released until at least February 2010. This project was succeeded in 2008 by the BMI Workshop Songbook Podcast, which Blumenkrantz hosted, showcasing the eponymous songbook, which features the work of members of the BMI Songwriters' Workshop.
Blumenkrantz is the recipient of the 2011 Fred Ebb Award for excellence in musical theatre songwriting.