The effects of Mn content and cooling rate on the eutectic reaction of flake graphite cast irons were studied by a combined analysis of macro/micro-structure and cooling curve data. The correlation between the eutectic reaction parameter and macro/microstructure was systematically investigated. Two sets of chemical compositions with different Mn contents were designed to cast. Three types of molds for cylindrical specimens with different diameters were prepared to analyze the cooling rate effect. The difference between undercooling temperature and cementite eutectic temperature (${Delta}T_1=T_U-T_{E,C}$), which is decreased by increasing the Mn content or increasing the cooling rate, is considered to be a suitable eutectic reaction parameter for predicting graphite morphology. According to the criterion, A-type graphite is mainly suggested to form for ${Delta}T_1$ over $20^{circ}C$, and D-type graphite is mainly suggested to form for ${Delta}T_1$ below $0^{circ}C$. Eutectic reaction time (${Delta}T$), which is increased by increasing the Mn content and decreased by increasing the cooling rate, is regarded as a suitable eutectic reaction parameter for predicting eutectic cell size. Eutectic cell size is found to decrease in proportion to the decrease of ${Delta}T$.