Multi-layer light field 3D displays are a type of computational 3D display which are gaining increasing interest for their holographiclike effect and natural compatibility with 2D displays. However, two major shortcomings; depth limitation and multi-layer blur are usually ignored in the traditional light field modeling and reconstruction based on liquid crystal displays (LCDs). Considering these two disadvantages, this paper proposes a depth guided and blur-dependent optimization for multi-layer light field displays. Different from the previous cascaded light field displays, which only use the fixed initialization plane as the depth center of the display content, the proposed method automatically chooses the best depth initialization from three different classical configurations by introducing the capture depth of camera imaging and a weighted blur factor of multi-layer display into the optimization. Experiments demonstrate that the proposed method provides a promising advantage in visual perception of compressive light field displays with both software simulation and prototype demonstration.