Step 1: General reactivity of noble gases.
Noble gases are generally inert due to their stable electronic configuration. However, heavier noble gases like xenon can form compounds because of their large atomic size and availability of vacant d-orbitals.
Step 2: Known compounds.
- Neon (Ne), Argon (Ar), and Helium (He) are almost completely inert and rarely form stable compounds.
- Xenon (Xe) forms several stable compounds such as XeF$_2$, XeF$_4$, XeF$_6$, XeO$_3$, and XeO$_4$.
Step 3: Conclusion.
Thus, Xenon forms the maximum number of compounds among the noble gases.
Final Answer:
\[
\boxed{\text{(B) Xe}}
\]