The invention discloses a manganese-contained free-cutting type silicon brass alloy. The alloy is composed of the following components, by weight percentage, 60.2-64.0wt% of Cu, 1.0-2.0wt% of Si, 0.2-1.0wt% of Al, 0.2-0.48wt% of Mn, 0.1-0.25 wt% of Pb, one or more of P, Mg and Sn, and the balance Zn and not greater than 0.5wt% of impurities, wherein the P accounts for 0.01-0.25wt%, the Mg accountsfor 0.01-0.25wt%, and the Sn accounts for 0.01-0.1wt%. The invention further discloses a preparation method for the alloy. The manganese-contained free-cutting type silicon brass alloy has the advantages of being excellent in dezincification corrosion resistance, good in casting property and cutting property, relatively low in cost and suitable for casting parts of a drinking water system, such as a faucet, a valve, a quick switch.