In an effort to reclaim its position as one of the key players in the Web search market, Yahoo is trying to revamp its algorithmic search and search advertising, tech site Re/code reported.

Sources from inside Yahoo have told Re/code that the tech giant's Chief Executive Marissa Mayer has given the nod to two new search-related initiatives, codenamed "Fast Break" and "Curve Ball," that would help the company get a "foot hold in the search engine market."

Based on information they received from Yahoo insiders, Re/Code reported that the two initiatives will be used to revive Yahoo's search engine business, which has been struggling for years.

"Sources said the plan is being done as part of a contemplation of how Yahoo can accelerate the end of - or actually end - its longterm search and advertising partnership with Microsoft. Currently, Yahoo only has control over the search experience, but Mayer clearly wants more purview over the business," Re/Code reported.  "Mayer has put a priority on the projects - a three- to four-month time frame - which could eventually result in a full search engine, possibly more oriented to mobile than the desktop, where Yahoo once played big."

Sources told Re/code the project is being led by the top executives of Yahoo, including senior vice president of platforms Jay Rossiter; search products SVP Laurie Mann; and mobile and emerging products SVP Adam Cahan.

Yahoo's search engine currently depends on a 10-year deal penned with Microsoft in 2009 that allows users to experience what they know as Yahoo but with Microsoft search and advertisements "working underneath," Re/Code reported. However, the search deal has failed to perform as had been expected.