Ytterbium triflate was immobilized on SBA-15 via chemical grafting and co-condensation and the catalytic performance of the immobilized ytterbium triflate for the selective conversion of glucose into lactic acid was investigated in this paper. The characterization results showed that ytterbium triflate was immobilized on SBA-15 successfully. It was found that the immobilized ytterbium triflate catalyst can catalyze the transformation of glucose into lactic acid effectively. The 58.01% yield of lactic acid was obtained from glucose at 200 °C. The HPLC analysis results of the products showed that the glyceraldehyde might act as an intermediate for the formation of lactic acid during the reaction. The immobilized ytterbium triflate catalyst was recycled for more than five times without noticeable loss in activity.