An oriented silicon steel product with a low iron loss for a low-noise transformer, and manufacturing method thereof are provided. The oriented silicon steel product comprises: a silicon steel substrate, a magnesium silicate bottom layer formed on a surface of the silicon steel substrate, and an insulation coating applied on the magnesium silicate bottom layer. The magnesium silicate bottom layer has a visible light normal reflectivity (R) of 40-60% for. By strictly controlling the visible light normal reflectivity of the magnesium silicate bottom layer of the silicon steel substrate and the evenness of the gloss of magnesium silicate bottom layer, lower iron loss, and reduced magnetostriction can be achieved, and thus a silicon steel product with low noise and particularly suitable for transformers can be obtained.