A dynamic magnesiothermic reduction (DMR) of various silica having different size and porosity is conducted to study the effects of silica properties on the ⅰ) DMR reaction kinetics, ⅱ) properties of resulting porous silicon (pSi) microparticles, and ⅲ) performances of pSi/C composites as anodes in lithium batteries. A DMR kinetic study using the Ginstling–Brounstein diffusion model shows that the smaller the silica particle size, the higher the reduction rate and the lower the apparent activation energy. Irrespective of silica properties, all the resulting pSi particles have mesoporous structures. The pSi particles comprise interconnected small primary silicon nanoparticles (approximately 30–40 nm in diameter) to render similar particle morphologies to those of the parent silica. Owing to these appealing features of pSi particles, pSi/C composites exhibit excellent cycling performance for over 200 cycles and high rate capabilities, whereas SiMP/C (prepared with a non-porous silicon microparticles) loses most of its capacity in early cycles owing to high resistance build-up during cycling. Overall, the DMR of silica precursors of several micrometers or less in size (preferably porous precursors) are desirable for the production of high-purity pSi microparticles for use in high-capacity and stable anodes for advanced lithium batteries.