This paper presents a novel structural composition for artificial bone scaffolds with an appropriate biocompatibility and biodegradability capability. To achieve this aim, carbon nanotubes, due to their prominent mechanical properties, high biocompatibility with the body and its structural similarities with the natural bone structure are selected in component of the artificial bone structure. Also, according to the piezoelectric properties of natural bone tissue, the barium titanate, which is one of the biocompatible material with body and has piezoelectric property, is used to create self-healing ability. Furthermore, due to the fact that, most of the bone tissue is consists of hydroxyapatite, this material is also added to the artificial bone structure. Finally, polycaprolactone is used in synthetic bone composition as a proper substrate for bone growth and repair. To demonstrate, performance of the presented composition, the mechanical behaviour of the bone scaffold is simulated using ANSYS Workbench software and three dimensional finite element modelling. The obtained results are compared with mechanical behaviour of the natural bone and the previous bone scaffold compositions. The results indicated that, the modulus of elasticity, strength and toughness of the proposed composition of bone scaffold is very close to the natural bone behaviour with respect to the previous bone scaffold compositions and this composition can be employed as an appropriate replacement for bone implants.