The azafullerene Tb 2@C 79N is found to be a single‐molecule magnet with a high 100‐s blocking temperature of magnetization of 24 K and large coercivity. Tb magnetic moments with an easy‐axis single‐ion magnetic anisotropy are strongly coupled by the unpaired spin of the single‐electron Tb−Tb bond. Relaxation of magnetization in Tb 2@C 79N below 15 K proceeds via quantum tunneling of magnetization with the characteristic time τ QTM=16 462±1230 s. At higher temperature, relaxation follows the Orbach mechanism with a barrier of 757±4 K, corresponding to the excited states, in which one of the Tb spins is flipped.