Foam-like materials have a large specific surface area and complex structure that promotes flow turbulence, which makes them useful for heat transfer. In the literature, heat transfer in metal foams (MF) with high thermal conductivity is mainly considered. In the present paper, an experimental study of the hydraulic and heat transfer characteristics of a rectangular channel filled with polyurethane foam (PUF) inserts with a thermal conductivity of 0.2 W⋅m−1⋅K−1 in the air flow was carried out. The open-cell PUF samples had 20 and 80 pores per inch (PPI), 0.97 and 0.98 porosity, 269 µm and 60 µm fiber diameter, respectively. The Reynolds number, based on the fiber diameter ranged from 0.04 to 50. From the results of hydraulic tests, friction coefficients were determined based on the fiber diameter and permeability. The Forchheimer coefficient was 0.198 and 0.318 for 20 and 80 PPI samples, respectively. The permeability was 1.889 10−7 ⋅m2 and 7.535 10−9 ⋅m2 for 20 and 80 PPI samples, respectively. The Nusselt number for both tested PUF samples was correlated with the Reynolds number based on the fiber diameter in a power law with the Reynolds number exponent and constant equal to 0.61 and 0.037 respectively. The intensity of heat transfer in the PUF samples was 7–12 times lower than that in MF. However, a significant heat transfer enhancement is still possible compared to the empty channel up to 7 times. The heat transfer performance of PUF was higher compared to the empty channel, but the thermal performance factor was lower than one. Nevertheless, in practical situations where the mass or cost of the heat exchanger is preferable, PUF can be considered as a heat transfer intensifier.