Fe/Mn-based cathode is considered a viable choice for sodium-ion batteries (SIBs) because of its affordability and high theoretical capacity. Nonetheless, bad actually comprehensive performance still impede its commercial application. In this work, based on the systematic study of P2-Na2/3Fe1/2Mn1/2O2 cathode materials with fewer Mn vacancies (NFM-Q), we realized a superior rate, cycling performance, air stability and more importantly unraveled the operation mechanism. Specifically, dual function of fewer Mn vacancies were explicitly clarified, which included the effect of shrinking sodium layers and the sodium-ion diffusion promoting effect, as confirmed by combining XRD, XANES, XAFS, EIS and GITT. So Mn vacancy engineering had the potential to break the contradiction between “sodium limiting” based on air-stabilization mechanism and “sodium promoting” based on kinetics. This has rarely been found before. And a series of characterizations strongly declared rapidly cooling rate could effectively regulated the creation of Mn vacancies. As a result, NFM-Q cathode not only delivered outstanding discharge capacity (192.7 mAh/g), cycling stability (123.8 mAh/g, 65 %, after 50 cycles) and energy density (574.0 Wh Kg−1), but also possessed splendid air stability (185.8 mA h/g, 61.8 % after 50 cycles and immersion). Moreover, ex-situ XRD and XAS further expounded structural evolution and charge compensation mechanism of NFM-Q cathode, confirming its superior performance. This work might offer fresh understanding about the roles of Mn vacancy engineering, which could open up new possibilities on the material design and the property improvement of Fe/Mn-based cathodes.