Merge all Photoshop layers into a new single layer - keeps all layer effects intact With the top layer selected, here's the trick. Press and hold your Shift, Alt and Ctrl (Win) / Shift, Option and Command (Mac) keys on your keyboard and press the letter E. Photoshop essentially takes a snapshot of the way the image currently looks (with all the blend modes intact), then places the snapshot on a brand new layer above the others! It won't look like anything has happened in the document (already a good sign), but if we look in my Layers panel, we see that I now have a fourth layer (Layer 4) sitting above the original three layers: