In order to achieve waste heat recovery using thermoelectric systems, thermoelectric materials showing high conversion efficiency over wide temperature range and high resistance against oxidation are indispensable. A silicide material with good n-type thermoelectric properties and oxidation resistance has been discovered. The composition and crystal structure of the silicide are found out Mn3Si4Al2 (abbreviated as 342 phase) and hexagonal CrSi2 structure, respectively. Element substitution of Mn with 3d transition metals is succeeded. Enhancement of Seebeck coefficient is observed in a Cr-substituted sample. The maximum dimensionless thermoelectric figure of merit ZT is 0.3 at 573 K in air for the Mn2.7Cr0.3Si4Al2 sample. Electrical resistivity of the Mn3Si4Al2 bulk sample holds constant value for 48 h at 873 K in air. This is due to formation of oxide passive layer on the surface of the bulk sample. The 342 phase is a promising n-type material with a good oxidation resistance in the middle temperature range of 500-800 K.