Transparent Backgrounds

Alrighty, i have been tinkering with blender for a while, and i could say i am finding a niche. however, i still have a question. Can blender render an object with a transparent background.
i am working on a project and what i am trying to acheive is to render the model itself without the default blue background?

Please help.

In your Render format options enable the RGBA button and select an output format that has an alpha channel like PNG. See more here: