N-type semiconductor indium tin oxide (ITO) nanoparticles are used to effectively suppress the fluorescence blinking of single near-infrared-emitting CdSeTe/ZnS core/shell quantum dots (QDs), where the ITO could block the electron transfer from excited QDs to trap states and facilitate more rapid regeneration of neutral QDs by back electron transfer. The average blinking rate of QDs is significantly reduced by more than an order of magnitude and the largest proportion of on-state is 98%, while the lifetime is not considerably reduced. Furthermore, an external electron transfer model is proposed to analyze the possible effect of radiative, nonradiative, and electron transfer pathways on fluorescence blinking. Theoretical analysis based on the model combined with measured results gives a quantitative insight into the blinking mechanism.