This paper demonstrates that the CO2 conversion in a dielectric barrier discharge rises drastically upon addition of Ar or He, and the effect is more pronounced for Ar than for He. The effective CO2 conversion, on the other hand, drops upon addition of Ar or He, which is logical due to the lower CO2 content in the gas mixture, and the same is true for the energy efficiency, because a considerable fraction of the energy is then consumed into ionization/excitation of Ar or He atoms. The higher absolute CO2 conversion upon addition of Ar or He can be explained by studying in detail the Lissajous plots and the current profiles. The breakdown voltage is lower in the CO2/Ar and CO2/He mixtures, and the discharge gap is more filled with plasma, which enhances the possibility for CO2 conversion. The rates of electron impact excitation–dissociation of CO2, estimated from the electron densities and mean electron energies, are indeed higher in the CO2/Ar and (to a lower extent) in the CO2/He mixtures, compared to the pure CO2 plasma. Moreover, charge transfer between Ar+ or Ar2+ ions and CO2, followed by electron‐ion dissociative recombination of the CO2+ ions, might also contribute to, or even be dominant for the CO2 dissociation. All these effects can explain the higher CO2 conversion, especially upon addition of Ar, but also upon addition of He.