--- - |2 Abstract The present study aimed to investigate changes induced by breathing at 0.1 Hz in affective state, cardiovascular activity, and adequacy of ventilation as well as the relation between changes in peripheral physiological processes and alteration of affect. Eighty‐three participants were randomly assigned to one of three groups: Two groups doing paced breathing at 0.1 Hz, one with and the other without a cover story hiding the goal of the experiment, and, as a control, paced breathing at 0.28 Hz. We measured the effects of breathing at 0.1 Hz on affective state (unpleasant and pleasant arousals), respiratory sinus arrhythmia (RSA), sympathetic control of the heart (preejection period, PEP), and adequacy of ventilation as measured by partial pressure of end‐tidal CO2 (PetCO2). The use of a cover story did not influence the effects of paced breathing on the study outcomes. In the 0.1 Hz groups, unpleasant arousal decreased only among men. Changes in RSA were not related to changes in affect. Respiratory frequency did not influence PEP. However, changes in PEP were inversely related to changes in pleasant arousal. PetCO2 decreased in all conditions, and a larger drop in PetCO2 predicted a greater decrease in unpleasant arousal. The results obtained corroborate previous findings showing that slow paced breathing may lead to moderate hyperventilation among untrained participants and suggest that hyperventilation during breathing at 0.1 Hz is not deep enough to produce an increase in affective arousal. - Psychophysiology, EarlyView.