I-III-VI ternary quantum dots (QDs) have emerged as favorable alternatives to the toxic II-VI QDs for optoelectronic and biological applications. However, their use as optical gain media for microlasers is still limited by a low fluorescence efficiency. Here, we demonstrate amplified spontaneous emission (ASE) and lasing from colloidal QDs of Zn-processed AgIn 5 S 8 (AIS) for the first time. The passivation treatment on the AIS QDs yields a 3.4-fold enhancement of fluorescence quantum efficiency and a 30% increase in the two-photon absorption cross section. ASE is achieved from the AIS/ZnS core/shell QD films under both one- and two-photon pumping with a threshold fluence of ∼84.5 μJ/cm 2 and 3.1 mJ/cm 2 , respectively. These thresholds are comparable to the best optical gain performance of Cd based-QDs reported in the literature. Moreover, we demonstrate a facile whispering-gallery-mode microlaser of the core/shell QDs with a lasing threshold of ∼233 μJ/cm 2 . The passivated AIS QDs can be promising optical gain media for photonic applications.