Aluminum foams having extremely low densities offer a large potential for lightweight structural materials. New manufacturing process without expensive aluminum alloy powder has been developed using conventional bulk aluminum alloy sheets. Preform plate containing blowing agent particles is first manufactured through accumulative roll-bonding (ARB) process. By heating the preform plate, closed-cell aluminum foams having various porosity and cell morphology are produced. It was revealed that ARB processing condition is significantly important to produce suitable aluminum foam with high porosity and uniform pore distribution. Present manufacturing process also possesses a potential to apply to many other metal and alloy foams.