The variation of electrical conductively and Seebeck coefficient of FeSi2 according to the density of the specimen has been observed over the temperature range 50 to $700^{circ}C$. A conventional pressureless sintering method with various sintering time (0, 0.5, 1, 5h) at $1190^{circ}C$ and/or various sintering temperatures(1160, 1175, 1190, $1200^{circ}C$) for 2 h was carried out to prepare $FeSi_2$ specimens having various densities. The relationship between the electrical conductivity and Seebeck coefficient was investigated after two steps of annealing (at $865^{circ}C$ and then $800^{circ}C$ for total 160h) and thermoelectric measurement. The electrical conductivity for the specimens showed a typical tendency of semiconductor, the average activation energy of which in the intrinsic region (above $300^{circ}C$) was observed approximately as 0.452 eV, and increased slightly with density. On the other hand, the specimen of the lower density showed the higher value of Seebeck coefficient in the intrinsic region. As the temperature fell into the non-degenerate region, the highly densified specimen which had relatively little residual metal phase showed the higher value of Seeback coefficient. The power factor of all specimens showed the optimum value at $200^{circ}C$. However, the power factor of the specimen of the lower density increased again from $400^{circ}C$ and that of the higher dense specimen increased from $500^{circ}C$. The power factor was more affected by Seebeck coefficient than electrical conductivity over all temperature range.