The inherently linear polypropylene suffers unsatisfying foaming behavior due to its low melt strength. To overcome this drawback, polypropylene‐/polypropylene‐grafted glycidyl methacrylate/thermoplastic polyester elastomer (PP/PP‐g‐GMA/TPEE) blending foam is prepared by the chemical foaming method in this study. The foaming mechanism of blending was studied from the aspects of the rheological behavior and the crystallization property. The results show that TPEE disperses in the PP matrix with fine particles and forms ideal interfaces, which provide a large number of nucleation sites for the foaming process of blending, inducing heterogeneous nucleation. Both of the 15 wt% and 20 wt% TPEE‐modified PP composites show higher shear viscosity and obvious strain hardening behavior. It has been proved that the cross‐linking network structure formed by TPEE and PP‐g‐GMA reaction improves the melt strength. The cell size decreases from 37.6 to 24.8 μm, and the cell density increases from 2.9 × 106 cells/cm3 to 2.5 × 107 cells/cm3. Compared with PP composites, the foaming window of the PP/PP‐g‐GMA/TPEE composites was widened.