Silicon-iron was added into the matrix of Fe-based metal bonded diamond saw blade as a weakening agent. The effects of the agent on the mechanical properties, sharpness and wear resistance of the matrix were investigated by using universal material testing machine, pendulum impact testing machine and automatic cutting machine. The results show that the addition of silicon-iron can reduce the flexural strength, toughness and wear resistance of the matrix, and improve the sharpness and hardness of the matrix. The appropriate mass fraction of the additive is 3% to 5%.