The exoplanet known as K2-18b has been described as being a potential 'Super-Earth' - a large rocky planet with the potential to support life.
Researchers at University of Toronto in Canada made the discovery by scouring data collected by the European Southern Observatory (ESO).
They also discovered a new planet in the same solar system. Both planets orbit K2-18, a red-dwarf star located about 111 light-years away in the constellation Leo.
"Being able to measure the mass and density of K2-18b was tremendous, but to discover a new exoplanet was lucky and equally exciting," said Ryan Cloutier, a PhD student at University of Toronto.
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"It was not a eureka moment because we still had to go through a checklist of things to do in order to verify the data," said Cloutier, lead author of the study published in the journal Astronomy and Astrophysics.
"Once all the boxes were checked it sunk in that, wow, this actually is a planet," he said.
The dataset used by Cloutier and other researchers came from the High Accuracy Radial Velocity Planet Searcher (HARPS) using the ESO's 3.6-metre telescope at La Silla Observatory, in Chile.
After using a machine-learning approach to figure out the mass measurement, Cloutier and his team were able to determine the planet is either a mostly rocky planet with a small gaseous atmosphere - like Earth, but bigger - or a mostly water planet with a thick layer of ice on top of it.
"With the current data, we cannot distinguish between those two possibilities," Cloutier said.
"K2-18b is now one of the best targets for atmospheric study, it is going to the near top of the list," Rene Doyon, from Universite de Montreal Institute in Canada, added.
It was while looking through the data of K2-18b that Cloutier noticed something unusual.
In addition to a signal occurring every 39 days from the rotation of K2-18, and one taking place every 33 days from the orbit of K2-18b, he noticed a different signal occurring every nine days.