In this study, novel polycaprolactone/hydroxyapatite (PCL/HA) scaffolds were prepared to increase mechanical properties and degradation of PCL/HA ones for bone tissue engineering. PCL macromers were synthesized through the reaction of PCL diol (Mn: 530, 1250, and 2000) and PCL triol (Mn: 900) with acryloyl chloride and confirmed using nuclear magnetic resonance spectrometer (NMR) and fourier transform infrared (FTIR). The PCL/HA scaffolds were prepared by cross-linking of PCL macromer in the presence of HA by UV treatment and freeze drying methods. Mechanical property and porosity as well as degradability of the PCL/HA scaffolds were also investigated. PCL/HA scaffolds showed faster degradation and higher compressive modulus than those of PCL itself due to their low crystallinity and modification of terminal groups. The pore morphology and pore sizes of the PCL/HA scaffold were checked by scanning electron microscope (SEM). Cell cytotoxicity and proliferation of MG-63 osteoblast cultured onto the PCL/HA scaffold was assessed by lactate dehydrogenase (LDH) assay and Alamar blue assay, respectively. The novel PCL/HA scaffold appears to be suitable for bone substitutes.