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Content-targeted advertising, the task of automatically associating ads to a Web page, constitutes a key Web monetization strategy nowadays. Further, it introduces new challenging technical problems and raises interesting questions. For instance, how to design ranking functions able to satisfy conflicting goals such as selecting advertisements (ads) that are relevant to the users and suitable and profitable to the publishers and advertisers? In this paper we propose a new framework for associating ads with web pages based on Genetic Programming (GP). Our GP method aims at learning functions that select the most appropriate ads, given the contents of a Web page. These ranking functions are designed to optimize overall precision and minimize the number of misplacements. By using a real ad collection and web pages from a newspaper, we obtained a gain over a state-of-the-art baseline method of 61.7% in average precision. Further, by evolving individuals to provide good ranking estimations, GP was able to discover ranking functions that are very effective in placing ads in web pages while avoiding irrelevant ones.