A comprehensive study on volumetric and spectroscopic properties of ternary solutions [water + protic ionic liquids (PILs) + caffeine (CAF)] was performed. Volumetric and compressibility properties were evaluated at different concentrations and temperatures, by measuring density and speed of sound of solutions. The newly synthesized PILs, ethanolammonium acetate; [EAAc] and ethanolammonium hexanoate; [EAHx] was used as co-solute. The density and speed of sound have been estimated at four different temperatures (298.15 K to 313.15 K) and at 0.1 MPa. Using these experimental data, apparent molar-volume, -isentropic compressibility, volumes of transfer were evaluated to understand the solute–solute, solute–solvent and solute–cosolute interactions occurring within the ternary solutions. At lower concentrations, negative transfer volumes indicate the presence of hydrophobic interactions among components of PILs (cations/anions) and CAF. The transfer volumes become positive as the concentration of PILs rises, implying that hydrophilic interactions were strengthened. In addition, UV–visible spectroscopic analysis was also performed to evaluate the nature of interactions. Hydrogen bonding interactions were also suggested based on the hyperchromic shift observed in UV absorption when aqueous CAF was titrated with PILs solutions. Physico-chemical analysis of the PILs-caffeine system are essential for comprehending the kinds of interactions that may occur in liquid combinations used for therapeutic drug delivery.