The bubble characteristics are critical in gas-liquid-solid fluidized beds and microbubbles significantly enhance mass transfer in multiphase systems. In this work, a novel concept of microbubble gas-liquid-solid fluidized bed is proposed. Telecentric camera is employed to measure and analyze the microbubble characteristics including bubble size and gas holdup in this three-phase fluidized bed. Additionally, solid holdups in the fluidized bed are also examined. The results demonstrate that the bubble size adheres a lognormal distribution and is significantly influenced by superficial gas velocity. Bubble diameter exhibit a relatively uniform distribution in the radial direction. Bubbles exceeding than 1 mm substantially affect local gas holdup, and the microbubble flow promotes a more uniform distribution of local gas holdup in radial position. The average gas holdup deviation is less than 15 % compared to overall gas holdup obtained from pressure drop. Although microbubbles are more abundant, larger bubbles (> 1 mm) contribute more to solid particle fluidization. This paper introduces a methodology for assessing smaller-sized microbubbles in three-phase flow. The hydrodynamic analysis of the microbubble gas-liquid-solid fluidized bed establishes a foundational framework for enhancing gas-liquid mass transfer in fluidized bed.