The invention is directed to a system for continuously filtering a blood product including whole blood or any of its component(s), erythrocytes, leukocytes, platelets and plasma either alone or in combination. The system includes a connector for receiving the blood product, a filter coupled to the connector for filtering the received blood product, a collection bag coupled to the filter for collecting the filtered blood product, and a reservoir bag connected to the connector for temporarily storing received blood product, and providing received blood product through the connector to the filter to maintain continuity in filtration. The reservoir bag and the collection bag are suspended, the connector near or below the bottom of the collection bag, and the bottom of the reservoir bag is above the bottom of the collection bag. Also provided is a method of filtering a blood product using the continuous blood filtration system.