Alfaro received his primary education in his place of birth. After graduation he dedicated himself to helping his father with his business negotiations. During his youth he aligned himself with anticlerical liberalism, a doctrine later embodied in the Ecuadorian Radical Liberal Party. He fought against Presidents García Moreno, Borrero, Veintemilla and Camaño, and as a result he is traditionally known as the "Viejo Luchador" (Old Warrior). Eloy Alfaro experienced many serious difficulties in the various campaigns he initiated against the conservative Ecuadorian governments. He spent his fortune, acquired with the help of his Panamanian wife, Ana Paredes Arosemena, in those battles. Nine children were born of their marriage: Bolívar, Esmeraldas, Colombia, Colón, Bolívar(2), Ana María, América, Olmedo, and Colón Eloy; Rafael was born out of wedlock.