Keyphrases describe a document in a coherent and simple way, giving the prospective reader a way to quickly determine whether the document satisfies their information needs. The pervasion of huge amount of information on Web, with only a small amount of documents have keyphrases extracted, there is a definite need to discover automatic keyphrase extraction systems. Typically, a document written by human develops around one or more general concepts or sub-concepts. These concepts or sub-concepts should be structured and semantically related with each other, so that they can form the meaningful representation of a document. Considering the fact, the phrases or concepts in a document are related to each other, a new approach for keyphrase extraction is introduced that exploits the semantic relations in the document. For measuring the semantic relations between concepts or sub-concepts in the document, I present a comprehensive study aimed at using collaboratively constructed semantic resources like Wikipedia and its link structure. In particular, I introduce a graph-based keyphrase extraction system that exploits the semantic relations in the document and features such as term frequency. I evaluated the proposed system using novel measures and the results obtained compare favorably with previously published results on established benchmarks.