A report in The Wall Street Journal suggests that the advertising system is now the company's top priority.
A Facebook spokeswoman confirmed to the newspaper that the company is working on a new system of advertising, but refused to say whether it will be based on adverts targeted at personal data.
The plan is reportedly at a very early stage and the social networking site is expected to launch a trial service soon.
If the system works in the same way as Google's, marketers will be able to buy keywords that see their ads run next to matched user content.
According to The Times, the advertisements will appear differently from the website's banner ads and boxes and could be mixed up with a user's daily 'news feed'.
Facebook currently has 30.6 million visitors and is predicted to make a profit of $30m (£15m) on its $150m revenue in 2007.
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