Experiments were performed to study the hydrodynamics of a cocurrent three-phase fluidized bed with liquid as continuous phase. Based on the 209 experimental data (with four liquid systems and five different particles) along with 115 literature data from six different sources on minimum fluidization velocity, a unique correlation for the estimation of minimum fluidization velocity in two-phase (u(g) = 0) as well as in three-phase systems is developed. A data bank consisting of 1420 experimental measurements for the fractional gas phase holdup data with a wide range of variables is used for developing empirical correlations. Separate correlations are developed for two flow regimes observed in this present work. The proposed correlations are more accurate and simpler to use.