The invention provides a post-processing device and image forming apparatus. The post-processing device includes a transport path that includes a first transport path which is bent in one direction and a second transport path which is continuous from the first transport path and is bent in the other direction, and that is directed vertically downward while being bent, a first processing unit that is disposed in the first transport path, a second processing unit that is disposed in the second transport path, and a third transport path that is continuous from the second transport path and that is directed vertically upward.