We calculate the phase diagram of He-3-He-4 mixtures in two dimensions as a
function of density and He-3 concentration. A number of features distingui
sh this system significantly from its three-dimensional counterpart. Specif
ically, we find that the He-3 phase consists, at low He-3 concentrations an
d positive pressures, of loosely bound dimers. The dimerized liquid phase s
eparates at a He-3 concentration of 2-3 % because the chemical potential of
the He-3 component in the mixture exceeds the chemical potential in the pu
re phase. Atomic He-3-He-4 mixtures can be found only in a metastable state
in a concentration regime above 3 %, where the mixture is stable against i
nfinitesimal concentration fluctuations. The softening of concentration-flu
ctuation modes with decreasing He-3 concentration is accompanied by a diver
gence of the He-3 hydrodynamic effective mass, and the magnetic susceptibil
ity vanishes. We verify, wherever possible, that our results are consistent
with simulation data and exact estimates.