We have developed an explicit inverse approach with a Hessian matrix for the least-squares (LS) implementation of prestack time migration (PSTM). A full Hessian matrix is divided into a series of computationally tractable small-sized matrices using a localized approach, thus significantly reducing the size of the inversion. The scheme is implemented by dividing the imaging volume into a series of subvolumes related to the blockwise Hessian matrices that govern the mapping relationship between the migrated result and corresponding reflectivity. The proposed blockwise LS-PSTM can be implemented in a target-oriented fashion. The localized approach that we use to modify the Hessian matrix can eliminate the boundary effects originating from the blockwise implementation. We derive the explicit formula of the offset-dependent Hessian matrix using the deconvolution imaging condition with an analytical Green’s function of PSTM. This avoids the challenging task of estimating the source wavelet. Moreover, migrated gathers can be generated with the proposed scheme. The smaller size of the blockwise Hessian matrix makes it possible to incorporate the total-variation regularization into the inversion, thus attenuating noises significantly. We revealed the proposed blockwise LS-PSTM with synthetic and field data sets. Higher quality common-reflection-point gathers of the field data are obtained.