Quantum spin liquids (QSLs) are exotic states of matter characterized by emergent gauge structures and fractionalized elementary excitations. The recently discovered triangular lattice antiferromagnet YbMgGaO$_4$ is a promising QSL candidate, and the nature of its ground state is still under debate. Here, we use neutron scattering to study the spin excitations in YbMgGaO$_4$ under various magnetic fields. Our data reveal a dispersive spin excitation continuum with clear upper and lower excitation edges under a weak magnetic field ($H=2.5$ T). Moreover, a spectral crossing emerges at the $Gamma$ point at the Zeeman-split energy. The corresponding redistribution of the spectral weight and its field-dependent evolution are consistent with the theoretical prediction based on the inter-band and intra-band spinon particle-hole excitations associated with the Zeeman-split spinon bands, implying the presence of fractionalized excitations and spinon Fermi surfaces in the partially magnetized YbMgGaO$_4$.