In a message on the company's website, Mr Blankfein said: "Fortunately, my form of lymphoma is highly curable and my doctors' and my own expectation is that I will be cured."
He plans to work as usual over the next few months while he undergoes chemotherapy.
But Mr Blankfein plans to reduce his travelling over the period.
Lymphoma is cancer of the lymphatic system, which is part of the immune system.
Mr Blankfein said: "There are many people who are dealing with cancer every day. I draw on their experiences as I begin my own."
He has been president and chief executive of the banking group since 2006, and has been a director of the company since 2003.
Goldman Sachs chief executive Lloyd Blankfein has announced that he has lymphoma.