In this paper a Xenon filled coaxial dielectric barrier discharge (DBD) has been studied to understand the high pressure, non-equilibrium, nonthermal plasma discharge. A quartz coaxial DBD tube (ID: 6mm, OD: 12 mm) at 400 mbar Xenon filled pressure has been used in the experiment. Different applied voltage waveforms at 30 kHz using RF generator as well as pulse power source have been applied to the discharge electrodes for the generation of microdischarges. Visual images of discharge and electrical waveform confirm the diffused type discharges. The knowledge obtained by dynamic processes of DBDs in the discharge gap explains quantitatively the mechanism that is obtained in ignition, development and extinction of DBDs. The behaviour of different discharge parameters has also been analyzed. From the experimental results and equivalent electrical circuit, the dynamic nature of equivalent capacitance has been reported. The relative intensity analysis of the second continuum of the Xe discharge (172 nm) has been carried out for different applied voltages and it is found that the radiation power has increased with voltage. © 2011 IEEE.