Web pages from a Web site can often be associated with concepts in an ontology, and pairs of Web pages also can be associated with relationships between concepts. With such associations, the Web site can be searched, browsed, or even reorganized based on the concept and relationship labels of its Web pages. In this article, we study the link chain extraction problem that is critical to the extraction of Web pages that are related. A link chain is an ordered list of anchor elements linking two Web pages related by some semantic relationship. We propose a link chain extraction method that derives extraction rules for identifying the anchor elements forming the link chains. We applied the proposed method to two well-structured Web sites and found that its performance in terms of precision and recall is good, even with a small number of training examples.