We invert Global Positioning System (GPS) velocity data to estimate fault slip rates in California using a fault‐based crustal deformation model with geologic constraints. The model assumes buried elastic dislocations across the region using Uniform California Earthquake Rupture Forecast Version 3 (UCERF3) fault geometries. New GPS velocity and geologic slip‐rate data were compiled by the UCERF3 deformation working group. The result of least‐squares inversion shows that the San Andreas fault slips at 19–22  mm/yr along Santa Cruz to the North Coast, 25–28  mm/yr along the central California creeping segment to the Carrizo Plain, 20–22  mm/yr along the Mojave, and 20–24  mm/yr along the Coachella to the Imperial Valley. Modeled slip rates are 7–16  mm/yr lower than the preferred geologic rates from the central California creeping section to the San Bernardino North section. For the Bartlett Springs section, fault slip rates of 7–9  mm/yr fall within the geologic bounds but are twice the preferred geologic rates. For the central and eastern Garlock, inverted slip rates of 7.5 and 4.9  mm/yr, respectively, match closely with the geologic rates. For the western Garlock, however, our result suggests a low slip rate of 1.7  mm/yr. Along the eastern California shear zone and southern Walker Lane, our model shows a cumulative slip rate of 6.2–6.9  mm/yr across its east–west transects, which is ∼1  mm/yr increase of the geologic estimates. For the off‐coast faults of central California, from Hosgri to San Gregorio, fault slips are modeled at 1–5  mm/yr, similar to the lower geologic bounds. For the off‐fault deformation, the total moment rate amounts to 0.88×10¹⁹  N·m/yr, with fast straining regions found around the Mendocino triple junction, Transverse Ranges and Garlock fault zones, Landers and Brawley seismic zones, and farther south. The overall California moment rate is 2.76×10¹⁹  N·m/yr, which is a 16% increase compared with the UCERF2 model.