For wind turbine blades with the increased slenderness ratio, flutter instability may occur at lower wind and rotational speeds. For long blades, at the flutter condition, relative velocities at blade sections away from the hub center are usually in the subsonic compressible range. In this study, for the first time for composite wind turbine blades, a frequency domain classical flutter analysis methodology has been presented including the compressibility effect only for the outboard blade sections, which are in the compressible flow regime exceeding Mach 0.3. Flutter analyses have been performed for the baseline blade designed for the 5-MW wind turbine of NREL. Beam-blade model has been generated by making analogy with the structural model of the prewisted rotating thin-walled beam (TWB) and variational asymptotic beam section (VABS) method has been utilized for the calculation of the sectional properties of the blade. To investigate the compressibility effect on the flutter characteristics of the blade, frequency and time domain aeroelastic analyses have been conducted by utilizing unsteady aerodynamics via incompressible and compressible indicial functions. This study shows that with use of compressible indicial functions, the effect of compressibility can be taken into account effectively in the frequency domain aeroelastic stability analysis of long blades whose outboard sections are inevitably in the compressible flow regime at the onset of flutter.