We demonstrate by use of continuous wave- and pulse-electron paramagnetic resonance spectroscopy on oriented single crystals of magnetically dilute Yb^III ions in Yb_0.01Lu_0.99(trensal) that molecular entangled two-qubit systems can be constructed by exploiting dipolar interactions between neighboring Yb^III centers. Furthermore, we show that the phase memory time and Rabi frequencies of these dipolar-interaction-coupled entangled two-qubit systems are comparable to the ones of the corresponding single qubits.