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Typicality, or averageness, is one of the key features that influences face evaluation, but the role of this property in the perception of facial expressions of emotions is still not fully understood. Typical faces are usually considered more pleasant and trustworthy, and neuroimaging results suggest typicality modulates amygdala and fusiform activation, influencing face perception. At the same time, there is evidence that arousal is a key affective feature that modulates neural reactivity to emotional expressions. In this sense, it remains unclear whether the neural effects of typicality depend on altered perceptions of affect from facial expressions or if the effects of typicality and affect independently modulate face processing. The goal of this work was to dissociate the effects of typicality and affective properties, namely valence and arousal, in electrophysiological responses and self-reported ratings across several facial expressions of emotion. Two ERP components relevant for face processing were measured, the N170 and Vertex Positive Potential (VPP), complemented by subjective ratings of typicality, valence, and arousal, in a sample of 30 healthy young adults (21 female). The results point out to a modulation of the electrophysiological responses by arousal, regardless of the typicality or valence properties of the face. These findings suggest that previous findings of neural responses to typicality may be better explained by accounting for the subjective perception of arousal in facial expressions.