There is a growing need for multifunctional biomaterials to serve both structural stabilization and biological function in bone regeneration. In this work, we developed hydroxyapatite–gelatin composites that combine dual-drug delivery with bioactivity and cytocompatibility. Macroporous composites were fabricated using a foam-templated precipitation route, and dual drugs were loaded (rifampicin, an antimicrobial, and indomethacin, an anti-inflammatory). Release kinetics exhibited a triphasic release profile with ~ 65–70% release taking place in the first 96 h, followed by sustained release until 240 h. The initial release kinetics showed the drug was released according to the Higuchi model; the profile shifted towards diffusion–swelling as confirmed by the Korsmeyer–Peppas fitting. When immersed in simulated body fluid in vitro, apatite was uniformly deposited within 7 days, indicating mineralization capacity was preserved. Cytocompatibility studies using MG-63 osteoblast-like cells showed 90% viability or greater for all extract concentrations, exceeding ISO 10993–5 criteria. These results demonstrate the composites as a multifunctional bone filler platform, enabling localized delivery of antimicrobial and anti-inflammatory drugs, bioactivity, and cytocompatibility.