We report a mathematical model of the supercritical fluid foaming (SCF) from the poly(epsilon-caprolactone) (PCL) + CO2 system based on the Laws of Conservation of Momentum and Conservation of Mass. The main model assumptions are constant temperature, negligible inertial effects, Newtonian and incompressible fluid, equal-sized bubble, constant bubbles density, and no interaction among bubbles. We present the model step-by-step, explain its parameter determination in detail, and demonstrate new insight into the model capability for predicting an unreported trend for bubble growth rate. For model validation, porous PCL scaffolds were fabricated using SCF at the pressure from 100 to 400 bar, temperature from 37 to 50 degrees C, the solubilization time of 2 h, and two-step depressurization rates (28.6 and 200 bar/min). The model results are in an acceptable agreement with the experimental data in terms of scaffold pore radius and scaffold porosity.