The publication in 2003 of the Ranking of Universities by Jiao Tong University of Shanghai has revolutionized not only academic studies on Higher Education, but has also had an important impact on the national policies and the individual strategies of the sector. The work gathers the main characteristics of this and other global university rankings, paying special attention to their potential benefits and limitations. The Web Ranking is analyzed in depth, presenting the model on which its compound indicator is based and analyzing its different variables.