Arsenene and antimonene are predicted to have 2.49 and 2.28 eV band gaps, which have aroused intense interest in the two-dimensional (2D) semiconductors for nanoelectronic and optoelectronic devices. Here, the hydrogenated arsenenes are reported to be planar magnet and 2D Dirac materials based on comprehensive first-principles calculations. The semi-hydrogenated (SH) arsenene is found to be a quasi-planar magnet, while the fully hydrogenated (FH) arsenene is a planar Dirac material. The buckling height of pristine arsenene is greatly decreased by the hydrogenation, resulting in a planar and relatively low-mass-density sheet. The electronic structures of arsenene are also evidently altered after hydrogenating from wide-band-gap semiconductor to metallic material for SH arsenene, and then to Dirac material for FH arsenene. The SH arsenene has an obvious magnetism, mainly contributed by the p orbital of the unsaturated As atom. Such magnetic and Dirac materials modified by hydrogenation of arsenene may have potential applications in future optoelectronic and spintronic devices.