The present invention relates to a formulation and method for treating an ear infection, especially otomycosis and otitis externa, by administering a one-time only treatment comprising an antibiotic, and antifungal, and an anti-inflammatory in a thick, otic carrier. In one embodiment, the formulation comprises a therapeutically effective amount of active ingredients including a fluoroquinolone, a triazole antifungal, a thiocarbamate antifungal, a corticosteroid and a polyene antifungal, as well as a thickener such that the formulation, upon applying to the infected ear canal, gels and remains in the ear canal, continuously releasing the active ingredients for several days, achieving consistent complete (98-100%) clinical resolution of otomycosis and otitis externa in a single application.