Squid is considered as a healthy food by consumers because of its high nutritive value. However, it is easily decay caused by microbial contamination. This study aimed to investigate the effect of slightly acidic electrolyzed water ice (SAEW-ice) on preservation of squid. Five groups (untreated with ice (A), squid placed on the tap water (TW) ice (B) or SAEW ice (C), squid placed in the TW ice layers (D) or SAEW ice layers (E)) were conducted to evaluate the changes of sensory properties, microbial loads, pH value, peroxide value (POV), thiobarbituric acid (TBA) and total volatile basic nitrogen (TVBN) contents during the shelf life tests. The results showed that SAEW-ice was more efficient at maintaining the squid quality during storage than TW-ice. The total bacterial counts were significantly reduced by 1.46 ± 0.10 log10 CFU/g treated by SAEW-ice and maintained relatively slow microbial growth during storage. It was also observed that SAEW-ice treatment delayed the appearance of browning and softening. Furthermore, SAEW-ice treatment also inhibited the increase of POV and maintained relatively low TBA and TVBN contents. These data indicated that SAEW-ice had the potential to ensure the microbial safety and control the quality deterioration of squid during storage, which could be a new approach worthy of further investigation.