The new phase of YbAg 2 was obtained using high-pressure and high-temperature reaction. YbAg 2 crystallizes in the MgZn 2 structure (the space group P6 3 /mmc space group, № 194) with a = 5.68153(3) Å and c = 9.31995(7)Å and the unit cell volume V = 260.54(3) Å 3. The XANES analysis showed that the valence state of Yb is +2.8. The low-temperature dependences of the electrical resistivity and magnetic susceptibility can be adequately described by a T 2 term that supports the Fermi-liquid picture. The Kadowaki-Woods relation gives a low value of the degeneracy (N = 2).