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PROBLEM TO BE SOLVED : To provide a water-soluble work liquid composition for abrasive grain fixed wire saws excellent in cutting rare earth magnets. SOLUTION : The composition contains 1-50 pts.wt. of (A) glycols such as propylene glycol, 1-30 pts.wt. of (B) carboxylic acid such as oleic acid, 1-30 pts.wts. of (C) a compound soluble in water showing basic property, such as an alkanolamine and potassium hydroxide, and 1-70 pts.wt. of (D) water, wherein the total of (A), (B), (C) and (D) amounts to 100 pts.wt. The composition may further contain a sulfur compound. The pH that the composition should preferably present be 7.5-9.5 when diluted ten times in water.