Abstract In order to construct a bone tissue engineering scaffold that could sequentially release multiple growth factors, the released system combining of PLLA microspheres and nHA/PLGA porous scaffolds was prepared in this study. Firstly, BMP-2 was encapsulated into PLLA microspheres to prepare the BMP-2-PLLA microspheres, then BMP-2-PLLA microspheres, nHA/PLGA and FGF-2 freeze-dried powder were mixed according to a certain proportion to prepare the BMP-2-PLLAms/FGF-2-nHA/PLGA scaffolds by supercritical fluid foaming technique. The results indicated that the BMP-2-PLLA microspheres were spherical, and the particle size of BMP-2-PLLA microspheres ranged from 6 to 10 μm. The drug loading and encapsulation efficiency of BMP-2-PLLA microspheres was 1.45×10^-3% and 61.9%, respectively. BMP-2-PLLAms/FGF-2-nHA/PLGA composite scaffolds were obtained with the pore size of 100-200 μm, the porosity of 75.8%, the compressive strength of 6.8 MPa, and the degradation rate of 19.9% at 8 weeks. The cumulative releases of FGF-2 and BMP-2 from the scaffolds were respectively about 77.1% and 44.2% after 7 days, 84.9% and 61.5% after 14 days. The results of BMSCs proliferation and differentiation showed that FGF-2 and BMP-2 released from the composite scaffolds could significantly promote cell proliferation and differentiation, and present a high bioactivity. BMP-2-PLLAms/FGF-2-nHA/PLGA scaffolds realized the sequential delivery of BMP-2 and FGF-2, and could induce BMSCs proliferation and differentiation effectively.