In this paper, we present an approach to search result clustering, using partitioning of underlying link graph. We define the notion of "query-induced subgraph" and formulate the problem of search result clustering as a problem of efficient partitioning of given subgraph into topic-related clusters. Also, we propose a novel algorithm for approximative partitioning of such graph, which results in cluster quality comparable to the one obtained by deterministic algorithms, while operating in more efficient computation time, suitable for practical implementations. Finally, we present a practical clustering search engine developed as a part of this research and use it to get results about real-world performance of proposed concepts.