The heterointeraction between liquid drops and air bubbles dispersed in another immiscible liquid is studied with the application of the atomic force microscopy (AFM) probe techniques. The tetradecane drops and air bubbles readily coalescence to form a lens-like structure in 100 mM sodium chloride aqueous solution, demonstrating strong hydrophobic (HB) attraction. The interaction range and strength of this hydrophobic attraction between oil drops and air bubbles is investigated by fine control of electrical double layer thicknesses related to specific electrolyte concentrations, and a midrange term in combination with a short-range term is found to present a proper characterization of this hydrophobic attraction. A further step is taken by introducing a triblock copolymer (Pluronic F68) into the aqueous solution, with results indicating that a relatively long-range steric hindrance (SH) furnished by a polymer "brush" surmounts the hydrophobic attraction. Finally, the interaction between a water drop and an air bubble in tetradecane is also measured as a comparison. The repelling action between a hydrophobic body (air bubble) and water drop indicates a strong repulsion. The present results show an interesting understanding of hydrophobic interactions between drops and bubbles, which is of potential application in controlling dispersion stability.