The present invention provides a resin composition capable of providing foams (non-crosslinked and crosslinked foams) which have low specific gravity and low compression set (CS) and are excellent in tensile strength properties, tear strength properties and vibration-damping properties at room temperature to high temperatures, and a foam of the resin composition. The resin composition for foams of the present invention comprises 5 to 95 parts by weight of an ethylene/α-olefin copolymer (A) and 5 to 95 parts by weight of a hydrogenated copolymer (B) obtained by hydrogenating a copolymer comprising a conjugated diene and a vinyl aromatic compound, and is characterized in that the hydrogenated copolymer (B) does not have a glass transition point of not higher than −10° C. when measured at a frequency of 1 Hz in accordance with JIS-K7198.