High compressive strength closed‐cell porous 17‐4PH precipitation hardening stainless steel with three different porosities (30%, 40%, and 50%, volume percent) was manufactured using a novel pressureless powder space holder method. The compressive strengths of the as‐sintered 17‐4PH stainless steel foam with porosities of 30%, 40%, and 50% are 420, 275, and 187 MPa, respectively. The application of an H900 heat treatment to the as‐sintered porous 17‐4PH stainless steel can effectively improve the compressive strength due to the precipitation of ϵ‐Cu phases. It is shown that with this pressureless powder space holder method, it can efficiently produce closed‐cell porous 17‐4PH stainless steel and control its porosity.