The effects of hydrogen absorption and manganese substitution on structural, electronic, optical, and thermoelectric properties of silicon-carbon nanotubes (SiCNT) are studied using the density functional theory and the GGA approximation. An examination of the PDOS curves and the electronic band structure showed that the Mn substitution leads to an increase in magnetic anisotropy and the occurrence of semi-metallic behavior and that the hydrogen absorption shifts the band gap toward the lower energies. A study of these nanostructures’ thermoelectric behavior reveals that the H absorption leads to a significant escalation in the figure of merit of the SiCNT to about 1.6 in the room temperature range. The effects of the H absorption on this nanotube’s optical properties, including the dielectric functions and its absorption spectra, are also investigated.