Abstract: The invention relates to a novel hydrolyzable silicone resin composition comprising a polysiloxane having at least one polyvalent metal ester group represented by either one of the following formulae:(--COO--) (.sub.m --M--(R.sub.2).sub.n--R.sub.1 --COO--).sub.m --M--(R.sub.2).sub.n ##STR1## in which R.sub.2 is a hydroxyl group, an alkoxyl group, an alkyl group, a halogen or oxygen atom; R.sub.1 is a bivalent organic residue; p and q each is 0 or an integer of 1 to 8; m is an integer of 2 or more; n is 0 or an integer of 1 or more, providing that the sum of m and n is equal to the valence number of metal M; and M is a bivalent to tetravalent metal selected from the group consisting of Ti, Al, Mg, Zn, Pb, Zr, Cu, Ni, Co and Sn, its preparation and coating composition containing the same, which is useful in an antifouling paint.