Polycaprolactone (PCL) and poly(lactic acid) (PLA) foams were produced by thermally induced phase separation (TIPS). Tetrahydrofuran/methanol (THF/MeOH) (solvent/non-solvent) mixture was used for the induction of liquid-liquid phase separation of polymer solutions, which were quenched at three different temperatures of 4, -20 and -80 °C. Solvent exchange followed by vacuum drying or supercritical CO2 extraction yielded polymeric foams with different morphologies. Characterization of foams was obtained by SEM, XRD, mercury intrusion porosimetry and compression tests. Influence of; (i) polymer concentration, (ii) quench temperature, and (iii) THF/MeOH ratio, on the foam morphology and properties were systematically investigated. Lower polymer concentration, lower THF content and higher quench temperature led to larger pore sizes in the foams obtained. By selectively tuning the process parameters, monolithic, semi-crystalline PCL and PLA foams with high porosity (80-90%), controllable pore sizes in 10-1500 μm range, and a wide spectrum of morphologies (cellular, bead-like, microspherical) were obtained.