The Playstation 3 yellow light of death typically means there is something malfunctioning with the system. Some YLOD problems are easy to fix, as the hard drive cable could be loose, a power cable could be loose, or another wire barely plugged in. If you have checked all the wires and your hard drive on your PS3 and you still have the yellow blinking light, you have two options for PS3 YLOD repair.
If your PS3 is still under warranty, you can send it back to Sony and they will fix it for you. If your console is not under warranty and you opt to send it to Sony, they will charge you $150 to fix the console. Whether or not you have to pay depends entirely on your warranty status, but the repairs could take anywhere from two to six weeks. Since this is a very long time to be without your PS3, most gamers opt for another way to get their PS3 YLOD repaired.
For those who do not want to pay $150 or wait a month and a half to get their console back, there are third party repair services or a PS3 YLOD repair guide that has been put together by a professional who has helped several people repair their own PS3s. It does require a bit of technical know-how and you will need the correct tools in order to fix the machine, but following the guide will teach you everything you need to know in order to repair your PS3.
Because of the methods used to repair the PS3, you should not follow the guide if your console is still under warranty. The guide describes how to open your console and check the motherboard for problems that are likely causing the yellow light, which will void any warranty you have left. Therefore if you do have a warranty, opt for the safe option and send the machine back to Sony. It may take a while to get it back, but it will be repaired for free and you will not have to worry about taking your machine apart and keeping track of all the small parts that you will need in order to put it back together.
For those who do not mind a bit of an adventure, you will need a screw driver, soldering gun, and a bit of technological know how. If that option sounds too complicated, or you are not interested in repairing your console yourself, there are many third party PS3 YLOD repair services being offered on the Internet. These services have the advantage of not costing as much as a Sony repair and typically they are returned to you much faster. In addition you will receive the same PS3 back, which means you can back up all of your data, whereas Sony is notorious for sending a refurbished console in the place of the broken console, causing data loss for the user. Repair services usually charge about half of what Sony charges, so consider this an option if repairing the console yourself is not an option.