Method of and system for ranking search results using machine learning algorithm

A method and a system for ranking search results using a machine learning algorithm (MLA), the MLA having been trained to determine query similarity based on textual content thereof, comprising: receiving a new query, retrieving a plurality of search queries, computing a respective similarity parameter between the new query and each query of the plurality of search queries, selecting a given past query associated with a highest respective similarity parameter, retrieving a set of search results associated with the given past query, each of the set of search results being associated with an annotation including respective search queries, and computing for each respective one of the plurality of respective search queries having been used to access the respective search result, a respective second similarity parameter, and using the respective second similarity parameter as a ranking feature for ranking the associated search results as search results for the new query.