The present invention provides a fixing liquid for fixing microparticles containing a resin to a medium, a fixing device using this fixing liquid, and an image forming apparatus comprising this fixing device. The fixing liquid of the present invention is a fixing liquid for fixing resin microparticles to a medium, and is a water-in-oil type fixing liquid comprising a continuous oil phase at least one portion of which comprises a softener for softening the resin microparticles by dissolving or swelling at least one portion of the resin microparticles, and an aqueous phase, as a separate phase, dispersed in the oil phase. As a result, the fixing liquid combines preservability during storage and drying property on a medium after application of the fixing liquid, is free of residual oily feel during application, and affords better fixing responsiveness than conventional fixing liquids.