Polymer foams are promising for sound absorption applications. In order to process an industrial product, a series of polystyrene (PS) composite foams were prepared by continuous extrusion foaming assisted by supercritical CO2. Because the cell size and cell density were the key to determine the sound absorption coefficient at normal incidence, the bio-resource lignin was employed for the first time to control the cellular structure on basis of hetero-nucleation effect. The sound absorption range of the PS/lignin composite foams was corresponding to the cellular structure and lignin content. As a result, the maximum sound absorption coefficient at normal incidence was higher than 0.90. For a comparison, multiwall carbon nanotube (MWCNT) and micro graphite (mGr) particles were also used as the nucleation agent during the foaming process, respectively, which were more effective on the hetero-nucleation effect. The mechanical property and thermal stability of various foams were measured as well. Lignin showed a fire retardant effect in PS composite foam.