With space constraints onshore, strong renewable resources available far offshore and growing green hydrogen demand, far offshore green hydrogen production may be an attractive option. To assess this potential, a literature review was conducted to identify the relevant technologies to be considered and suitable modelling methods. Next, a mixed integer quadratically constraint programming (MIQCP) optimization model was set up. The far offshore green hydrogen supply chain was optimized for various scenarios with this model and the results were analyzed. It was found that far offshore green hydrogen costs are in the same order of magnitude as the costs of its alternatives. Far offshore green hydrogen may be considered marginally competitive with these alternatives from 2035 onwards in the analyzed scenarios when taking into account the considerable advantages of far offshore production, such as avoidance of scarce land usage in crowded areas and certain geopolitical considerations.