In this work, periodic density functional theory (DFT) calculations were performed to investigate the CO2 activation mechanism over thermodynamically stable χ-Fe5C2 (510) and θ-Fe3C (031) facets. Four major pathways of CO2 activation were examined, including the direct dissociation of CO2 and the H-assisted intermediates of *COOH, *HCOO, and *CO + *OH. Both χ-Fe5C2 and θ-Fe3C have proven to be active for CO2 direct dissociation (Ea =0.17 eV). As for H assisted CO2 activation, the one-step formation of *CO + *OH is feasible on χ-Fe5C2 (Ea =0.24 eV). Furthermore, θ-Fe3C favors the *HCOO pathway (Ea =0.20 eV) and *CO + *OH formation (Ea = 0.11 eV), while neither phase favors the formation of *COOH. Both CO2 direct activation and H-assisted CO2 activation pathways are of vital importance under high ratio of H/C in CO2 hydrogenation reaction. This work sheds light on CO2 activation mechanism over iron carbides, improving the rational design of CO2 hydrogenation catalysts.