The electronic parameters and interface state properties of Yb/p-InP Schottky diode have been investigated by currentvoltage (IV), capacitancevoltagefrequency (CVf ) and conductancevoltagefrequency (GVf ) measurements at room temperature. The barrier height and ideality factor of the Yb/p-InP Schottky diode are found to be 0.68 eV (IV)/0.79 eV (CV) and 1.24, respectively. As well, the values of barrier heights, ideality factors and series resistance are estimated by Cheung and Norde methods are compared. Under forward bias conditions, ohmic and space charge limited conduction (SCLC) mechanisms are identified at low and higher voltages, respectively. The CV characteristics of the Yb/p-InP Schottky diode are also measured at different frequencies at room temperature. Further, the Cf and Gf measurements of the Yb/p-InP Schottky diode are performed at various biases. The interface state density N ss and relaxation time¸of the diode are estimated from the Cf and Gf measurements. The N ss and the¸show a decrease with bias from the top of the valence band toward the midgap. The profile of series resistance dependent on frequency and voltage confirms the presence of interface states in Yb/p-InP Schottky structure.