Introduction: The aim of this work was to develop a functional composite hydrogel mainly composed of silk fibroin (a protein polymer) and chitosan (a polysaccharide polymer) and to evaluate its properties as a potential scaffold for wound healing dressings. Each component of the composite has well-confirmed properties that are effective in the injury healing process. Silk fibroin was extracted using Ajisawa’s method, and a commercial chitosan. Methods: A combined method involving cyclic freeze–thawing and freeze-gelation (by using NaOH) was used to synthesize the SF:CS hydrogel at a ratio of 1:1 (v/v) and a porous scaffold was fabricated upon lyophilization. The developed composite scaffold was analyzed using FTIR analysis, porosity estimation, and swelling test (fluid uptake). Results: FTIR analysis revealed the chemical nature and molecular conformation of the developed composite scaffold-based hydrogel. Porosity evaluation showed that the composite had 65–80% porosity. The fluid uptake evaluation was conducted for 24 hours, and it confirmed that the synthesized composite hydrogel had a high capacity of solvent uptake, which was stabilized after 6h. To conclude, the synthesized functional composite-based hydrogel prepared using the combined method showed porous structure and a high degree of swelling, indicating that it is a promising biomaterial with integrated drug delivery systems to preventing inflammation and enhancing angiogenesis during wound healing process.