The energy band structure of fcc ytterbium has been calculated by the relativistic augmented plane wave method for a wide range of pressures by reduction of the unit cell volume between 1. 0 V//0 to 0. 5 V//0 where V//0 is the volume of the unit cell at normal pressure. The metal is observed to undergo a metal semiconductor transition for a compression of V/V//0 equals 0. 8 and a semiconductor to metal transition at V/V//0 equals 0. 6. The possibility of a valence change from 2** plus to 3** plus has been predicted for the volume range V equals 0. 6 V//0 to 0. 5 V//0. The changes in the Fermi surface topology, density of states, and resistivity have been investigated for the first time to provide confirmatory evidence for the above results.