Temperature driven magnetization reversal and exchange bias reversal were observed in single phase polycrystalline perovskite YbCr1-xFexO3 (x = 0–0.15). The two reversals occurred at the same compensation temperature, which shows a tunability by the substitution of Fe3+ ions for Cr3+ ions. We propose a unified interaction mechanism regarding the switches of both the magnetization and the exchange bias, which can be attributed to the antiferromagnetic coupling between the Yb sublattice and Fe/Cr sublattice. The tunable magnetization and exchange bias reversals may be potentially applied in nonvolatile magnetic memory and switching devices.