The present invention provides a coalescing agent for aqueous coatings, a coalescing agent composition, and an aqueous coating. The coalescing agent for aqueous coatings is obtained by esterification reaction of fatty acids and glycol ethers. The coalescing agent prepared by the present invention has a boiling point as high as 330° C., has no irritant odor, and is environmental friendly and safe. It overcomes shortcomings of conventional coalescing agents, which is suitable for various polymer emulsion systems, and can significantly reduce the film-forming temperature of aqueous emulsion coatings and optimize the film-forming performance.