In this study, the microstructure, mechanical properties and high temperature oxidation characteristics of HiSiMo and HiSiMoM ductile iron for exhaust manifold were investigated. The HiSiMoM ductile iron was developed by optimization of alloying element addition and casting design. The exhaust manifold prototype was fabricated using the HiSiMoM iron and this resulted in the weight saving of 0.73kg. The microstructures of the HiSiMo and HiSiMoM irons were similar each other and graphite nodularity was 89% and 93% respectively. Tensile strengths of them were 663.5 and 674.4 MPa and Brinell hardness were 235.3 and 243.9 respectively. Both irons showed parabolic weight gain behavior in high temperature oxidation atmosphere. Oxidation layer was divided into external and internal layers. The weight gain of the HiSiMoM iron was lower than that of the HiSiMo iron after isothermal oxidation test at $900^{circ}C$. This should be rationalized by higher Si enrichment at the interface of the matrix and internal layer of the HiSiMoM iron.