The invention discloses a silicon rubber composition, which consists of silicone oil containing acetylacetamide or acetylacetoxy, and a curing agent, wherein the curing agent is one or more of an isocyanate compound, an amino compound, an acrylate compound and an ionic organic matter. The invention also discloses silicon rubber. According to the invention, the silicon rubber is prepared by taking the silicone oil containing acetylacetamide or acetylacetoxy as a raw material and utilizing the chemical reaction between the acetylacetamide groups in the silicone oil with other reactive compounds to realize a novel curing mode, wherein the problems of catalyst poisoning and organic micro-molecular release do not exist in the curing mode so that the purpose of green and environmental-protection is achieved; and in addition, the silicon rubber disclosed in the invention can be widely applied to the aspects of sealants, adhesives, painting, encapsulation, coating and the like.