A device(2)for heating and frothing a liquid such as milk comprises means (32) for generating steam which is to be used for heating the liquid, and an intake (27) of air which is to be used for frothing the liquid. Other than in conventional devices, the air intake (27) is arranged in the steam generating means (32), so that it is possible to supply air directly into the steam generating means (32), namely through the air intake (27), and to realize a combined flow of steam and air, which is very well suitable to be used in the heating and frothing processes to be performed. As a consequence, a heating/frothing unit (40) which is part of the device (2) only needs to have one connection to a supply line (60) besides a connection to a supply line (10) for supplying the liquid.