Aluminum foam that is lightweight with high specific strength, high energy absorption and other characteristics can be used in aerospace, transportation, machinery manufacturing and other fields. The PCM method is usually used to prepare closed-cell aluminum foams. The microsized aluminum foams made by this process can solve the non-uniform pore structures caused by liquid drainage during the foaming process of large aluminum foams. The surface morphology and internal pore structure of microsized aluminum foams are affected by the quality of the precursor used for foaming. In this paper, foamable precursors were obtained via either hot rolling or hot extrusion and subsequently foamed. By analyzing the micromorphology and foaming process of the precursor, the influence of the technological method on the macroscopic pore structure of the final aluminum foam was studied. The results show that the aluminum powder particles in the precursor prepared with the hot rolling method had metallurgical bonding, and the outer surface was dense, with almost no porosity and holes in the interior. The microsized aluminum foam obtained after foaming was smooth in appearance, and the internal pore structure was round and uniform. The reason is that during the foaming process of microsize aluminum foam, the foaming agent was evenly distributed in the precursor of the hot rolling process because of its compact structure. During the foaming process, the decomposed gas of the foaming agent will not escape, and the evenly distributed foaming agent tends to nucleate in situ. In the process of rapid foaming, the pressure in the bubble is enough to resist the liquid drainage phenomenon caused by gravity, and the growth direction of the gas core is isotropic, which promotes the foam structure to be more rounded and uniform.