The present review summarizes important aspects of the crystal chemistry of ytterbium-based intermetallic compounds along with a selection of their outstanding physical properties. These originate in many cases from the ytterbium valence. Different valence states are possible here, divalent (4f 14 ), intermediate-valent, or trivalent (4f 13 ) ytterbium, resulting in simple diamagnetic, Pauli or Curie−Weiss paramagnetic, or valence fluctuating behavior. Especially, some of the Yb 3+ intermetallics have gained deep interest due to their Kondo or heavy Fermion ground states. We have summarized their property investigations using magnetic and transport measurements, specific heat data, NMR, ESR, and Mossbauer spectroscopy, elastic and inelastic neutron scattering, and XAS data as well as detailed thermoelectric measurements.