BLOBCAT is a source extraction software that utilizes the flood fill algorithm to detect and catalog blobs, or islands of pixels representing sources, in 2D astronomical images. The software is designed to process radio-wavelength images of both Stokes I intensity and linear polarization, the latter formed through the quadrature sum of Stokes Q and U intensities or as a by-product of rotation measure synthesis. BLOBCAT corrects for two systematic biases to enable the flood fill algorithm to accurately measure flux densities for Gaussian sources. BLOBCAT exhibits accurate measurement performance in total intensity and, in particular, linear polarization, and is particularly suited to the analysis of large survey data.