Annealing effect of the oxygen precipitation and the induced defects have been investigated on the fast neutron irradiated Czochralski silicon (CZ-Si) by infrared absorption spectrum and the optical microscopy. It is found that the fast neutron irradiation greatly accelerates the oxygen precipitation that leads to a sharp decrease of the interstitial oxygen with the annealing time. At room temperature (RT), the 1107cm-1 infrared absorption band of interstitial oxygen becomes weak and broadens to low energy side. At low temperature, the infrared absorption peaks appear at 1078cm-1, 1096cm-1, and 1182cm-1, related to different shapes of the oxygen precipitates. The bulk microdefects,including stacking faults, dislocations and dislocation loops, were observed by the optical microscopy. New or large stacking faults grow up when the silicon self-interstitial atoms are created and aggregate with oxygen precipitation.