The semiconducting $MnSi_{1.73}$ compound has been recognized as a thermoelectric material with excellent oxidation resistance and stable characteristics at elevated temperature. In the present work, we applied mechanical alloying (MA) technique to produce $MnSi_{1.73}$ compound using a mixture of elemental manganese and silicon powders. The mechanical alloying was carried out using a Fritsch P-5 planetary mill under Ar gas atmosphere. The MA powders were characterized by the X-ray diffraction with Cu-$K{alpha}$ radiation, thermal analysis and scanning electron microscopy. Due to the observed larger loss of Si relative to Mn during mechanical alloying of $MnSi_{1.73}$, the starting composition of a mixture Mn-Si was modified to $MnSi_{1.83}$ and then $MnSi_{1.88}$. The single $MnSi_{1.73}$ phase has been obtained by mechanical alloying of $MnSi_{1.88}$ mixture powders for 200 hours. It is also found that the grain size of $MnSi_{1.73}$ compound powders analyzed by Hall plot method is reduced to 40 nm after 200 hours of milling.