To overcome the drawbacks of conventional wedge cut blasting—high peak particle velocity (PPV), low blasthole utilization, and a high proportion of large fragments—this paper proposes a delayed blasting method for wedge cut blasting. By integrating the rock-fracturing process of wedge cut blasting, the mechanisms of rock breaking and vibration reduction are investigated and confirm the method through field tests. The results indicate that the rock breaking process can be divided into two stages, the stage of fracture propagation and the stage of cavity ejection, and a rock breaking criterion for wedge cut delayed blasting is established. Considering differences in the vibration waveforms generated by different types of cut holes, a vibration waveform fitting method for wedge cut delayed blasting is proposed. Furthermore, the generation time of the blast-induced free surface during the rock breaking process is calculated, and a calculation Equation for the optimal delayed time is derived. Field tests in the Qi Jiazhuang tunnel show that, compared with conventional blasting, the proposed delayed blasting method increases blasthole utilization by 23.8%, reduces the large fragment rate by 67.4%, lowers PPV by 53.7%, and increases the dominant vibration frequency by 42.0%. These results significantly improve the wedge cut blasting performance and construction safety.