A ranking approach, ListRank-MF, is proposed for collaborative filtering that combines a list-wise learning-to-rank algorithm with matrix factorization (MF). A ranked list of items is obtained by minimizing a loss function that represents the uncertainty between training lists and output lists produced by a MF ranking model ListRank-MF enjoys the advantage of low complexity and is analytically shown to be linear with the number of observed ratings for a given user-item matrix. We also experimentally demonstrate the effectiveness of ListRank-MF by comparing its performance with that of item-based collaborative recommendation and a related state-of-the-art collaborative ranking approach (CoFiRank). Categories and Subject Descriptors H.3.3 [Information Storage and Retrieval]: Information Search and Retrieval