Open cell foams, made on the basis of polyurethane foams replication method are well known and had been widely used since decades. The advantage of the network-like metal foams is it exhibits a natural bone-like structure which enables ingrowth of bone cells and blood vessels. The aim of the present study is to develop SS316L foam with an open cell structure by using powder metallurgy routes via foam replication method. The SS316L slurry was produced by mixing SS316L powder with Polyethylene Glycol (PEG), Methylcellulose (CMC) and distilled water. The composition of the SS316L powder in the slurry was varied from 40 to 60 wt. %. Then, polymeric foam template was impregnated in SS316L slurry and dried at room temperature. Sintering was carried out in a high temperature vacuum furnace at 1300°C. The microstructure of the SS316L foam produced was observed by Scanning Electron Microscope (SEM) and the elemental analysis was carried by Energy Dispersive X-ray (EDX). It was found that pore size are within 200-400μm and the average pore size is 293μ. The detected elements in the SS316L foam were C, Al, Ca, O, Cr, Fe, Mo, Ni and Si.