Tectonic and magmatic activity may couple at volcanic arcs, even though any relationship is less defined in smaller arcs, experiencing limited activity. Here we use gas geochemistry data collected during the 2011-2012 unrest at Santorini (Greece) to understand better the dynamics of the Aegean Volcanic Arc with regard to its tectonic setting. Since the most recent eruption in 1950 and before the unrest, minor seismicity and CO 2 degassing (mainly from the fumaroles of Nea Kameni islet) were observed at Santorini. On January 2011, anomalous seismicity along the NE-SW trending Kameni Line was accompanied by an inflation north of Nea Kameni. Fumarolic gas composition changed and gas release notably increased. We carried out geochemical study on both Kameni and Thera islands from January 2012 to June 2013. We repeated surveys of diffuse soil CO 2 degassing and of in-soil gas concentration, and we analyzed fumaroles and gas dissolved in thermal waters for chemical and isotopic composition. In agreement with previous studies, our geochemical data, particularly the diffuse soil CO 2 flux increase, the increase of H 2 content, and of CO 2 /CH 4 and 3 He/ 4 He ratios in fumarolic gases, support geophysical data in indicating that unrest was associated with the emplacement of new mafic magma. This unrest had limited effect on the regional setting, with gas emissions focusing along the regional NE-SW structures, without triggering by any seismic event, conversely to the 1950 eruption, which probably occurred in a frame of general tectonic reorganization of the Aegean microplate.