A computer-implemented system and method for keyword extraction and contextual advertisement generation are disclosed. The system in an example embodiment includes a keyword extraction service to receive from a consumer application a request for activation of a keyword extraction service via an application programming interface, the request including an identity of a content source, the request further including an identification of a particular extraction process to be used by the keyword extraction service on the identified content source; determine if the keyword extraction service has already processed the identified content source and retained extracted keywords in a data store; extract keywords from the identified content source using the particular extraction process identified in the request; and make the extracted keywords accessible to the consumer application.