Incineration and disposal of carbon fiber waste from the aircraft industry lead to serious energy consumption and environmental pollution. The use of this waste as reinforcement is a wise approach to appreciate the high performance of the carbon fiber. This study is part of our effort to develop new green rubber foam from recycled carbon fiber prepreg (rCFP) reinforced natural rubber via internal mixer. It is focusing on the effect of different rCFP loading at 1, 3, 5, and 7 parts per hundred rubbers (phr) as reinforcement. The samples were prepared by melt compounding using an internal mixer and expanded via two step heat transfer foaming process. The physical properties of the green rubber foam were characterized and the results were observed to systematically correlate with the impact properties of the foam. The absorbed energy of the foam increases up to 0.3 joules with increasing relative foam density of 0.81 which is associated with the formation of smaller foam cells ~0.68mm and more spherical shape pores.