Electrically conductive and mechanically robust thermoplastic polyurethane (TPU)/carbon nanotube (CNT) foams were achieved using a novel in situ foam 3D printing (F-3DP) process. Thermally expandable microspheres (TEMs), as blowing agent, were incorporated into the TPU/CNT filaments and fed to the F-3DP process. Foams with uniform morphologies and repeatable properties were achieved in a wide density range by solely regulating the nozzle temperature and its correlated flow rate. Overall, the degree of foaming increased substantially with an increase in the temperature, providing a density range of 0.96 to 0.17 g/cm3. It was interestingly found that a small amount of CNT (1 wt%) increased the expansion ratio. A further increase of CNT (to 3 and 5 wt%), however, caused a reduction in the expansion ratio. These opposing trends were attributed to the competing effects of CNT on the melt's thermal conductivity and viscosity. Both CNT content and nozzle temperature exhibited significant impacts on the tensile properties and electrical conductivity. This resulted in foams with diverse Young's modulus and strain at break in the range of 3.9–29.5 MPa and 260 to 52 %, respectively. More importantly, the electrical conductivity increased up to several orders of magnitude, as the foam expansion was increased due to temperature rise. This interesting finding was thoroughly discussed in terms of the enhanced inter-bead adhesion, vanishing inter-bead gaps, and realignment of CNTs around the growing TEMs. The results demonstrate a great potential of F-3DP to produce functional foams with controllable density and performance in a wide range.