In this paper, we discuss an initial-boundary value problem (IBVP) for the multi-term time-fractional diffusion equation with x-dependent coefficients. By means of the Mittag-Leffler functions and the eigenfunction expansion, we reduce the IBVP to an equivalent integral equation to show the unique existence and the analyticity of the solution for the equation. Especially, in the case where all the coefficients of the time-fractional derivatives are non-negative, by the Laplace and inversion Laplace transforms, it turns out that the decay rate of the solution for long time is dominated by the lowest order of the time-fractional derivatives. Finally, as an application of the analyticity of the solution, the uniqueness of an inverse problem in determining the fractional orders in the multi-term time-fractional diffusion equations from one interior point observation is established. © 2020, American Institute of Mathematical Sciences. All rights reserved.