Collisioninduced stimulated photon echo generated at transition 0 ↔ 1 was analyzed theoretically and investigated experimentally in the gaseous mixture of ytterbium vapour diluted with a large amount of buffer gas xenon in the presence of a weak longitudinal magnetic field. The intercombination transition of 174 Yb (6s 2 ) 1 S 0 ↔(6s6p) 3 P 1 was used; all experimental parameters were carefully controlled for their correspondence to the broad spectral line conditions. The curve representing the collisioninduced stimulated photon echo variations versus a weak magnetic field strength showed very good agreement with the corresponding theoretical curve; this agreement permitted getting the decay rates for 174 Yb level 3 P 1 orientation and alignment in collisions with Xe.