How to Fix the YLOD in Ps3

What is the Yellow Light of Death and How Do I know I have it?

You will get three beeps, followed by a flashing yellow light, and then a flashing red light before going back to the idle red light. This is much like the red ring of death in 360's.....

What Causes the YLOD?

This problem is caused by the CPU & GPU getting too hot, thus the solder around the two chips has cracked. Main causes of overheating, are storing your console in a non ventilated area, this will cause huge amounts of dust and debris. 

Thus the dust and debris will clog the air vents on your console, and the hot air that the console blows out has no very to go. When the hot air cannot escape all the hot air stays trapped in your console, thus can cause the CPU and GPU to overheat. I have experienced some consoles, which don't have a drop of debris inside the console, they just fail.

In certain circumstances the YLOD can mean other problems besides the CPU and GPU issues mentioned above. Some consoles the CPU and/or GPU is damaged beyond repair. A few consoles this means there could be blue-ray issues or power supply problems.

What is the best way to fix the YLOD?

The best way is too re-flow the mother board of the console. This means using either a re-flow machine or a heat gun that reaches 1000 degrees Fahrenheit. Whatever you do, don't use a hair-dryer, this is a crap fix and won't help you out.

First you need to put no clean flux, around the edges of the CPU and GPU. Then you re-flow the board once that is done you will need to buy some thermal compound or thermal grease and apply a thin coat to the top of the CPU and GPU. 

A product recommended is called Arctic Silver 5, there are other types of thermal compound that might be better for specific purposes, but for cooling a CPU arctic silver 5 is the best. You can generally get a tube of arctic silver 5 at radio shack or online for around six dollars.

Fixing the YLOD is not a difficult task, there are plenty of great videos on YouTube to check out. Just don't pay money for a guide, you can find plenty of solid information for free on the internet.