In this work, a preliminary study of foam injection molding of a thermoplastic elastomer, Engage 8445, and its microcomposite loaded with iron particles was carried out, in order to evaluate the effect of the iron microparticles on the foaming process. In particular, reinforced samples have been prepared by using nanoparticles at 2% by volume. Nitrogen has been used as physical blowing agent. Foamed specimens consisting of neat and filled elastomer were characterized by density measurements and morphological analysis. While neat Engage has shown a well developed cellular morphology far from the injection point, the addition of iron microparticles considerably increased the homogeneity of the cellular morphology. Engage/iron foamed samples exhibited a reduction in density greater than 32%, with a good and homogeneous cellular morphology, both in the transition and in the core zones, starting from small distances from the injection point.