A new stable pyrrolidine functionalized fullerene derivative, C69H10N2O2, has been synthesized, purified by high performance liquid chromatography, and characterized by MALDI mass spectrometry, ultraviolet-visible spectroscopy, Fourier transform infrared, 1 H and 13 C nuclear magnetic resonance. The magnetic properties of the analogous endohedral species have been studied by both continuous wave (CW) and pulsed EPR. CW-EPR spectra indicated an anisotropic hyperfine interaction and a permanent zero-field-splitting (ZFS). Both CW and pulsed EPR showed the ZFS parameter D ef f to be around 17 MHz. Pulsed EPR revealed a biexponential decay in both T1 and T2, yielding a molecular tumbling correlation time τc of 31.4 ± 2.5 ps.