To provide a water-containing cutting liquid for slicing a silicon ingot, which maintains excellent lubricity even if the temperature of a cutting portion is high because a coating film is formed by the reaction with silicon in the surface of a silicon wafer, in the cutting process of an ingot of silicon or the like.

The water-containing cutting liquid for slicing a silicon ingot contains, as essential components, a water-miscible solvent (A), a reaction-coating type lubricant (B) that reacts with silicon, and water (W). The content of the reaction-coating type lubricant (B) is preferably 0.01-10 wt.% to the total amount of the water-miscible solvent (A) and water (W) in use, and a silane coupling agent is preferable as the reaction-coating type lubricant (B).