We used precision spectroscopy to analyze the R(53)24-1, P(49)24-1, and R(95)25-1 lines of molecular iodine (127I2) to establish optical frequency references for the laser cooling of Yb atoms using the 1S0 – 3P1 intercombination transition at 556 nm. A laser frequency instability of < 2 × 10−12 (for 0.01 s < τ < 3000 s, τ is the average time of the measurement) was attained using the observed Doppler-free hyperfine transitions of the iodine lines. The absolute frequencies of the observed 63 hyperfine transitions were determined with an uncertainty of 7 kHz (fractional uncertainty of 1.3 × 10−11). Highly accurate hyperfine constants were determined by fitting the measured hyperfine splittings to a four-term Hamiltonian that includes the electric quadrupole, spin-rotation, tensor spin-spin, and scalar spin-spin interactions with an uncertainty of approximately 1 kHz. The observed hyperfine transitions of molecular iodine provide new frequency references for research using atomic Yb, because these transitions are close to the intercombination transition of Yb at 556 nm.