An algorithm used by Google search engine. It uses the vast link structure available with it to find pages with the most weights. These "weights" are the links from one page to another. It's like a voting system, where the pages vote for each other.
Example- Navigating from page B to page A can be considered as a vote for a page A as a link is available for going to it. This is considered as a vote which the search engine takes into account for ranking pages (based on the popularity).
One of the important factors that determine the location of the site in the first pages of Google. A website's page ranking is shown in s a scale of 1-10. A page ranker tool bar is available in Google to check out the page ranking. There are number of ways to get a better ranking in Google. Some of them are legal while the others are not advisable to use as the page will be blocked once the search engine finds out. Google bombs, link farms and creating numerous unnecessary links can get you in trouble with Google. As the algorithm takes into account the various factors while page ranking. Some of the better ways to increase the page ranking are by trading relevant links with other users, creating back links and registering in a directory (using directories with higher page ranking). This is greatly beneficial to achieve a better page ranking.