We have investigated the structural, mechanical, thermal, electronic, magnetic, and half-metallic properties of new Yb-based EQHAs such as YbCoCrSb and YbCoTiSn using first-principles calculations. We computed the ground state properties of different possible crystal structures and magnetic states. We also calculated their elastic constants and derived mechanical parameters, including bulk, shear, and Young's moduli, as well as Poisson's and Pugh ratios. The electronic structure of both EQHAs shows half-metallic behavior with a spin down band gap of 0.39 eV for YbCoCrSb and 0.30 eV for YbCoTiSn in the GGA-PBE scheme. The estimated total spin magnetic moment has a positive integer value, which is well in accordance with the Slater-Pauling rule of 18. Because of the nearly closed f orbital shell of the Yb atom, the total spin magnetic moment is mainly dependent on 3d transition metal atoms. These alloys exhibit TC > 300 K using the mean field approximation.