The Dokdo and Ulleung islands (Korea) are volcanic islands in the East Sea (Sea of Japan), formed in the late Cenozoic. These volcanic islands, in the back-arc basin of the Japanese archipelago, provide important information about magma characteristics in the eastern margin of the Eurasian plate. The origin of the Dokdo and Ulleung intraplate volcanism is still controversial, and the role of fluids, especially water, in the magmatism is poorly understood. Here, we comprehensively analyzed the melt inclusions (10–100 μm in diameter) hosted in clinopyroxene phenocrysts of trachyte, trachyandesite, and trachybasalt. In particular, we observed Ti-magnetite and amphibole which were crystallized as daughter mineral phases within melt inclusions, suggesting that Ti-magnetite was formed in an oxidized condition due to H2O dissociation and H2 diffusion. The Ti-magnetite exhibited compositional heterogeneities of MgO (average of 8.28 wt %), Al2O3 (average of 8.68 wt %), and TiO2 (average of 8.04 wt %). The positive correlation of TiO2 with Cr2O3 is probably attributed to evolutionary Fe–Ti-rich parent magma. Correspondingly, our results suggested hydrous and oxidized magmatism for the Dokdo and Ulleung volcanic islands.