In this article, the multicomponent copolymers were prepared by the copolymerization of two hydrophobic silicon-containing monomers bis(trimethylsilyloxy) methylsilylpropyl glycerol methacrylate (SiMA) and tris(trimethylsiloxy)-3-methacryloxypropylsilane (TRIS) with three hydrophilic monomers 2-hydroxyethyl methacrylate, N-vinylpyrrolidone, and N,N-dimethyl acrylamide. The copolymers were hydrated to form transparent silicone hydrogels. The oxygen permeability coefficients (Dk) of hydrogels were measured, and their relationships with the equilibrium water contents (EWC) and the types and contents of silicon containing monomers as well as the phase separation structures of silicone hydrogels were analyzed in detail. The results showed that the EWC decreased as the increase of SiMA content. The relationship between Dk and SiMA content, as well as that between Dk and EWC, showed inverted bell curve distributions, which meant two main factors, i.e., silicon-oxygen bond in silicone and water in hydrogel, contributed to oxygen permeation and followed a mutual inhibition competition mechanism. The internal morphologies of the hydrogels were observed by transmission electron microscope, and the results showed that the hydrogels presented two different phase separation structures depending on the types of the silicon-containing monomers. The silicone phase in SiMA containing hydrogel presented to be a granular texture, while the silicone phase in TRIS containing hydrogel formed a fibrous texture which resulted in a higher Dk value. These results could help to design a silicone hydrogel with better properties and wider application.