We report whole-rock chemistry, mineral chemistry, and volatile content from Villarrica volcano’s major recent paroxysms and background activity. Composition of the volcanic products are basalt to basaltic andesite with whole-rock SiO2 content between 50 and 56 wt%, and a mineralogy dominated by olivine (Fo71-80), clinopyroxene (Mg# ~ 50) and plagioclase (An60–80). Volatile contents in melt inclusions are up to 1.5 wt% H2O, 500 ppm CO2, 1230 ppm sulfur and 580 ppm chlorine. Regardless of the type of activity, there are no substantial variations in whole-rock composition or the volatile content when the activity switches from background activity to a major paroxysm, strongly suggesting that this shift does not just depend on the arrival of new magma in the shallow magmatic system. Geothermobarometry constrains crystallization of the major mineral phases at various depths between 3 and 12.7 km, suggesting that degassing of a volatile-rich recharge magma occurs deeper than 12 km, producing efficient mixing throughout the whole system, and sustaining the lava lake activity in Villarrica’s summit crater. The occurrence of a permanent lava lake also suggests that the magma recharge must be close to continuous and therefore sudden changes between background and paroxysmal volcanic activity are likely controlled by relatively small changes in the rate of recharge and/or the volatile release rate in the magmatic system. This has important implications for the understanding of eruption triggers and the forecasting of volcanic eruptions.Graphical abstract