In the frame of a systematic study of the activation cross-sections of the deuteron induced nuclear reactions, excitation functions of the nat Yb(d,xn) 177,173,172mg,171mg,170,169 Lu, nat Yb(d,x) 175,169 Yb and nat Yb(d,x) 173,172,168,167,165 Tm reactions are studied up to 40 MeV, a few of them for the first time. Cross-sections were measured with the activation method using a stacked foil irradiation technique and high resolution γ-ray spectrometry. The experimental data are analyzed and compared to the results of the theoretical model codes ALICE-IPPE, EMPIRE-II and TALYS. From the measured cross-section data integral production yields were calculated. Applications of the new cross-sections are discussed.