The invention relates to a production method of a powder metallurgy high-silicon aluminum alloy compressor piston. Materials comprise 14-32% of silicon, 0-5.0% of copper, 0.8-2.0% of magnesium, iron not more than 0.3%, other impurities not more than 2.0% and the balance of aluminum; according to alloy components of the piston, pure aluminum powder and aluminum alloy powder are taken for batching; 0.8-2.0% of organic wax bonding agent or lubricating agent is added for mixing; and then, the piston is machined through a series of steps of formation, dewaxing, sintering, heat treatment, shaping, machining, burr brushing, vacuum resin dipping, cleaning, curing and oxidation. The production method is simple in preparation process and reasonable in batching, has the characteristics of low machining quantity and high material utilization, is reasonable in material component ratio of the piston, reduces the production cost, and improves the production efficiency; primary silicons in a microscope structure of the molded piston are fine particles uniformly distributed; and the total strength and the frictional wear performance of the piston can be effectively improved.