A combined in-mold decoration and microcellular injection molding (IMD/MIM) method by integrating in-mold decoration injection molding (IMD) with microcellular injection molding (MIM) was proposed in this paper. To verify the effectiveness of the IMD/MIM method, comparisons of in-mold decoration injection molding (IMD), conventional injection molding (CIM), IMD/MIM and microcellular injection molding (MIM) simulations and experiments were performed. The results show that compared with MIM, the film flattens the bubbles that have not been cooled and turned to the surface, thus improving the surface quality of the parts. The existence of the film results in an asymmetrical temperature distribution along the thickness of the sample, and the higher temperature on the film side leads the cell to move toward it, thus obtaining a cell-offset part. However, the mechanical properties of the IMD/MIM splines are degraded due to the presence of cells, while specific mechanical properties similar to their solid counterparts are maintained. Besides, the existence of the film reduces the heat transfer coefficient of the film side so that the sides of the part are cooled asymmetrically, causing warpage.