The Ta/CoFeB/Pt/MgO/HfO2 system is investigated, whose magnetic anisotropy can be controlled through magneto‐ionic gating, using both ionic liquid and solid state gating, via a non‐oxidative mechanism combining reversible and irreversible gating effects. Analysis of X‐ray absorption spectroscopy at the Co and Fe edges reveals no indications of oxidation after gating, while a reversible change at the oxygen K edge suggests the involvement of oxygen species in the magneto‐ionic process. In addition, X‐ray diffraction measurements reveal that gating can irreversibly increase the crystalline volume of MgO, through an increase in the MgO/Mg(OH)2 ratio. This is in line with measurements in solid state devices showing that in a series of 150 gating cycles a reversible effect combines with a progressive increase in the strength of the perpendicular magnetic anisotropy contribution that saturates after extensive …