University College Cork (UCC) has been named the Sunday Times University of the Year.

The rankings are due to be released this weekend with UCC being named top university and Maynooth University named as second best.

Cork Institute of Technology (CIT) was chosen as the best Institute of Technology, with Sligo IT in second.

The rankings take into account research funding, graduate employment levels and progression rates as part of the decision process.

Alastair McCall, editor of the Sunday Times Good University Guide, said about UCC: "It displays an academic restlessness that keeps it striving for the constant improvement that maintains its position ahead of many of its peers, both nationally and internationally".

"It maintains a perfect balance between teaching and research, seeking excellence in both. The proof comes in coming top in two of the seven performance measures we use to rank universities and Institutes of Technology - generating the most research income per capita of any university in Ireland and seeing the greatest proportion of students progress from the first year to the second year of their courses".

Kate Butler compiled the rankings. She says that UCC had a number of advantages that secured the top spot.