A microbubble generator and a laundry treating device. The microbubble generator includes: an air dissolving tank, having an air dissolving cavity defined therein, and an inlet and an outlet configured to allow water to flow in and out, the inlet being located above the outlet; a baffle, provided in the air dissolving tank, at least partially located between the inlet and the outlet in a horizontal direction, and provided with a gap and/or a through hole; and a cavitator, provided outside the air dissolving tank and connected with the outlet, or provided at the outlet.