[en] The measured ground- and isomeric-state magnetic moments of ${}^{175,177}$Yb have been theoretically investigated for the first time using the method based on the Quasiparticle Phonon Nuclear Model (QPNM). In this method, spin-polarization is produced through interaction between the magnetic dipole (M1) excitations of the core and the odd particle. It provides a quenched spin gyromagnetic factor whose magnitude depends on the density of 1${}^{+}$ levels in the core. g${}_R$ factors, one of the essential inputs of the magnetic moment calculations, have been computed with a newly developed approach. The predictions of theory for the magnetic moments are in excellent agreement with experimental data.