A　rigorous　derivation　of　the　macroscopic　governing　equations　for　convective　flow　in　a　nanofluid　saturated　metal　foam　has　been　conducted　using　the　volume　averaging　theory　originally　developed　for　analyzing　heat　and　fluid　flow　in　porous　media.　The　nanoparticle　conservation　equation　at　a　pore　scale　based　on　the　Buongiorno　model　has　been　integrated　over　a　local　control　volume　together　with　the　equations　of　continuity,　Navier-Stokes　and　energy　conservation.　The　unknown　terms　resulting　from　the　volume　averaging　procedure　were　modeled　mathematically　to　obtain　a　closed　set　of　volume　averaged　versions　of　the　governing　equations.　This　set　of　the　volume　averaged　governing　equations　was　analytically　solved　to　find　the　velocity,　temperature　and　nanoparticle　distributions　and　heat　transfer　characteristics　resulting　from　both　thermal　and　nanoparticle　mechanical　dispersions　in　a　nanofluid　saturated　metal　foam.　Eventually,　the　analysis　revealed　that　an　unconventionally　high　level　of　the　heat　transfer　rate　(about　80　times　as　high　as　the　case　of　base　fluid　convection　without　a　metal　foam)　can　be　attained　by　combination　of　metal　foam　and　nanofluid.　©　2016　by　the　authors;　licensee　MDPI,　Basel,　Switzerland.　This　article　is　an　open　access　article　distributed　under　the　terms　and　conditions　of　the　Creative　Commons　by　Attribution　(CC-BY)　license　(http://creativecommons.org/licenses/by/4.0/).