Jr
Sorry, that I don't know of any magic that will stop it from shedding. I personally think it is poor quality,no matter what you paid for it. It reminds me of a cotton thermal blanket I bought. It was a mess. My other thermal blankets don't do that. They are higher quality name brand. I would take it back to the store and get something else. My only other thought is that over time it will shed less and less, kind of like a bath towel. After you wash and dry it a few times they kind of stop giving off so much lint.

Tralee
You could try just running it through the dryer. . .that works to get dust out of things, maybe it would help you de-lint. I hate to tell you that I use a funny, old-fashioned solution for blankets: blanket covers. Just like the ones that you use for eiderdown comforters. If you're no great shakes at sewing, stitch a couple of sheets together. Colorful Indian "sheets" are nice, too. Sometimes I put rick-rack or piping into the seams. The blanket lasts forever that way, and when you get tired of looking at it, you just change the cover. This solution may not stop the shedding, but at least it will contain it.

Lassie
Try putting it in the washer for a quick wash and then into the dryer to fully dry. Make sure you wipe out your washing machine after just in case lots of fuzzies end up in there. Hope that helps. I hate when fuzzies appear! Good Luck!