This study analyzed the steam gasification of flexible polyurethane foam waste. Moisture content of flexible polyurethane foam waste, steam to flexible polyurethane foam waste ratio and temperature were assessed as the variable parameters affecting the gasification performance. In the steam gasification of flexible polyurethane foam waste: (1) Increasing moisture content of flexible polyurethane foam waste resulted in declining the hydrogen to carbon monoxide ratio, advancing the lower heating value of the syngas, slightly improving the cold gas efficiency, increasing the exergy efficiency, and decreasing the normalized carbon dioxide emission. (2) The hydrogen to carbon monoxide ratio enhanced, the lower heating value of syngas improved firstly, and then, decreased, the cold gas efficiency mitigated, the exergy efficiency lessened and the normalized carbon dioxide emission enlarged when the steam to flexible polyurethane foam waste ratio heightened. (3) When the temperature increased, the hydrogen to carbon monoxide ratio decreased, the lower heating value of the syngas improved, the cold gas efficiency firstly enhanced, and then, decreased, the exergy efficiency firstly improved, and then, slightly decreased, and the normalized carbon dioxide emission mitigated.