The Yamaha 0W23 was the machine that brought Giacomo Agostini his first Yamaha 500 cc World Championship in 1975. The 0W23 was lighter and had a smaller wheelbase, the engine had a cassette-type gearbox and the rear swing arm was constructed from square profile material. Also the exhausts were completely different. Officially Yamaha did not enter for 1976 but the 0W23 was used by Johnny Cecotto under the internal code 0W26.

Yamaha 0W23, 1974-75