The invention discloses a high-silica magnesian fluxed pellet for a blast furnace and a production method of the high-silica magnesian fluxed pellet. The high-silica magnesian fluxed pellet comprises, by mass fraction, 3.5%-5.5% of SiO2, 1.5%-2.2% of MgO, 0.8%-1.2% of basicity, not larger than 1.5% of Al2O3, not larger than 0.1% of K2O and Na2O, not larger than 0.02% of Zn, not larger than 0.05% of S and not larger than 0.07% of P. The silica content of the pellet is high, the pellet can be produced through high-silica iron fine powder, the using proportion of the pellet in the blast furnace is improved, meanwhile, the using scope of the iron fine powder is enlarged, and the using proportion of the iron fine powder inland is improved. By means of the method, the high-silica iron fine powder can be used for producing the magnesian fluxed pellet, the production cost is reduced, meanwhile, the pellet qualified in quality can be obtained, and requirement of the blast furnace for using the high proportion of pellet is met; and by means of the method, the scope of the iron fine powder used for producing the magnesian fluxed pellet can be expanded, and the using amount of the high-silica iron fine powder inland can be particularly improved. The method has the beneficial effects of being low in production cost, simple in process and excellent in product performance.