DC magnetization (M) measurements were done on a single crystal of YbCo2Zn20 at very low temperatures (T) down to 0.07 K in magnetic fields H parallel to [111]. In addition to the metamagnetic behavior at mu H-0(m) = 0.6 T already known, we found a new metamagnetic transition at mu H-0'(m) = 6 T whose critical field moves to higher fields with increasing T. Moreover, in fields above 6 T, temperature dependence of the magnetization M(T) shows a kink below 0.6 K. These anomalies indicate the presence of a new field-induced ordered phase. In addition, a broad peak is observed in M(T) in fields above 3 T outside the ordered phase. These results are best explained by a level crossing of the low-lying crystalline-electric-field state with the ground state, possibly assisted by a valence change in magnetic fields.