Radar and optical observations reveal that the continuous increase in the spin rate of near-Earth asteroid (54509) 2000 PH5 can be attributed to the Yarkovsky-O'Keefe-Radzievskii-Paddack (YORP) effect, a torque due to sunlight. The change in spin rate is in reasonable agreement with theoretical predictions for the YORP acceleration of a body with the radar-determined size, shape, and spin state of 2000 PH5. The detection of asteroid spin-up supports the YORP effect as an explanation for the anomalous distribution of spin rates for asteroids under 10 kilometers in diameter and as a binary formation mechanism.