The present disclosure relates to the technical field of lithium-ion battery, and particularly, to an electrolytic solution and a lithium-ion battery including the electrolytic solution. The electrolytic solution includes additives, and the additives include an additive A and an additive B. The additive A forms a film on the surface of the positive electrode and effectively prevents interface side reactions at the positive electrode. Comparing with the additive A, the additive B is preferentially reduced to form a film at the negative electrode, avoiding an increase in impedance and deterioration of cycling dynamic performance, etc., caused by film formation of the additive A on the negative electrode. The combination of the additive A and additive B imparts the battery with a reduced gas production, a higher capacity retention rate and a lower impedance at high temperature.