A rational Diophantine triple is a set of three nonzero rational a,b,c with the property that ab+1, ac+1, bc+1 are perfect squares. We say that the elliptic curve y2 = (ax+1)(bx+1)(cx+1) is induced by the triple {a,b,c}. In this paper, we describe a new method for construction of elliptic curves over ℚ with reasonably high rank based on a parametrization of rational Diophantine triples. In particular, we construct an elliptic curve induced by a rational Diophantine triple with rank equal to 12, and an infinite family of such curves with rank ≥ 7, which are both the current records for that kind of curves.