Psychophysical interactions between chromatic and achromatic stimuli may inform our understanding of the cortical processing of signals of parvocellular origin, which carry both luminance and color information. We measured observers’ sensitivity in discriminating the luminance of circular patch stimuli with a range of baseline (“pedestal”) luminance and chromaticity. Pedestal stimuli were defined along vectors in cone-contrast space in a plane spanned by the red-green cone-opponent (L-M) and achromatic (L + M + S) axes. For a range of pedestal directions and intensities within this plane, we measured thresholds for discriminating increments from decrements along the achromatic axis. Low-contrast pedestals lowered luminance thresholds for every pedestal type. Thresholds began to increase with higher pedestal contrasts, forming a “dipper”-shaped function. Dipper functions varied systematically with pedestal chromaticity: Compared to the achromatic case, chromatic pedestals were effective at lower contrast. We suggest that the enhancement of luminance sensitivity caused by both achromatic and chromatic pedestals stems from a single mechanism, which is maximally sensitive to chromatic stimuli. We fit our data with a computational model of such a mechanism, in which luminance is computed from the rectified output of cone-opponent mechanisms similar to parvocellular neurons.