diff --git a/adapter/markdown/markdown.go b/adapter/markdown/markdown.go
index 223178c..0a1c1e7 100644
--- a/adapter/markdown/markdown.go
+++ b/adapter/markdown/markdown.go
@@ -31,9 +31,7 @@ func NewParser() *Parser {
 }
 
 // Parse implements note.Parse.
-func (p *Parser) Parse(source string) (note.Content, error) {
-	out := note.Content{}
-
+func (p *Parser) Parse(source string) (*note.Content, error) {
 	bytes := []byte(source)
 
 	context := parser.NewContext()
@@ -42,21 +40,28 @@ func (p *Parser) Parse(source string) (note.Content, error) {
 		parser.WithContext(context),
 	)
 
+	links, err := parseLinks(root, bytes)
+	if err != nil {
+		return nil, err
+	}
+
 	frontmatter, err := parseFrontmatter(context, bytes)
 	if err != nil {
-		return out, err
+		return nil, err
 	}
 
 	title, bodyStart, err := parseTitle(frontmatter, root, bytes)
 	if err != nil {
-		return out, err
+		return nil, err
 	}
-
-	out.Title = title
-	out.Body = parseBody(bodyStart, bytes)
-	out.Lead = parseLead(out.Body)
-
-	return out, nil
+	body := parseBody(bodyStart, bytes)
+
+	return &note.Content{
+		Title: title,
+		Body:  body,
+		Lead:  parseLead(body),
+		Links: links,
+	}, nil
 }
 
 // parseTitle extracts the note title with its node.
@@ -116,6 +121,26 @@ func parseLead(body opt.String) opt.String {
 	return opt.NewNotEmptyString(strings.TrimSpace(lead))
 }
 
+// parseLinks extracts outbound links from the note.
+func parseLinks(root ast.Node, source []byte) ([]note.Link, error) {
+	links := make([]note.Link, 0)
+
+	err := ast.Walk(root, func(n ast.Node, entering bool) (ast.WalkStatus, error) {
+		if link, ok := n.(*ast.Link); ok && entering {
+			target := string(link.Destination)
+			if target != "" {
+				links = append(links, note.Link{
+					Title:  string(link.Text(source)),
+					Target: target,
+					Rels:   strings.Fields(string(link.Title)),
+				})
+			}
+		}
+		return ast.WalkContinue, nil
+	})
+	return links, err
+}
+
 // frontmatter contains metadata parsed from a YAML frontmatter.
 type frontmatter struct {
 	values map[string]interface{}
diff --git a/adapter/markdown/markdown_test.go b/adapter/markdown/markdown_test.go
index aa056ba..987f5a7 100644
--- a/adapter/markdown/markdown_test.go
+++ b/adapter/markdown/markdown_test.go
@@ -153,8 +153,56 @@ Paragraph`,
 	)
 }
 
+func TestParseLinks(t *testing.T) {
+	test := func(source string, links []note.Link) {
+		content := parse(t, source)
+		assert.Equal(t, content.Links, links)
+	}
+
+	test("", []note.Link{})
+	test("No links around here", []note.Link{})
+
+	test(`
+# Heading with a [link](heading)
+
+Paragraph containing [multiple **links**](stripped-formatting) some [external like this one](http://example.com), and other [relative](../other).
+A link can have [one relation](one "rel-1") or [several relations](several "rel-1 rel-2").
+`, []note.Link{
+		{
+			Title:  "link",
+			Target: "heading",
+			Rels:   []string{},
+		},
+		{
+			Title:  "multiple links",
+			Target: "stripped-formatting",
+			Rels:   []string{},
+		},
+		{
+			Title:  "external like this one",
+			Target: "http://example.com",
+			Rels:   []string{},
+		},
+		{
+			Title:  "relative",
+			Target: "../other",
+			Rels:   []string{},
+		},
+		{
+			Title:  "one relation",
+			Target: "one",
+			Rels:   []string{"rel-1"},
+		},
+		{
+			Title:  "several relations",
+			Target: "several",
+			Rels:   []string{"rel-1", "rel-2"},
+		},
+	})
+}
+
 func parse(t *testing.T, source string) note.Content {
 	content, err := NewParser().Parse(source)
 	assert.Nil(t, err)
-	return content
+	return *content
 }
diff --git a/core/note/parse.go b/core/note/parse.go
index 3535390..6e3d740 100644
--- a/core/note/parse.go
+++ b/core/note/parse.go
@@ -11,8 +11,16 @@ type Content struct {
 	Lead opt.String
 	// Body is the content of the note, including the Lead but without the Title.
 	Body opt.String
+	// Links is the list of outbound links found in the note.
+	Links []Link
+}
+
+type Link struct {
+	Title  string
+	Target string
+	Rels   []string
 }
 
 type Parser interface {
-	Parse(source string) (Content, error)
+	Parse(source string) (*Content, error)
 }