The primary gamma rays and energy levels in 174Yb were investigated in average resonance neutron capture using tailored neutron beams at 2 keV and 24 keV and a pair spectrometer at the High Flux Reactor at Brookhaven. Nearly 300 levels with spin up to J=4 are reported below 4 MeV. The distribution of radiative strength in this nucleus was derived and is analyzed with a giant dipole resonance and single-particle strength models. The neutron binding energy in 174Yb was determined at 7464.4(3)keV.