Pre-trained language models (PLMs) have been successfully used to build high-performance ranking models for large-scale information retrieval systems. However, traditional PLM-based ranking approaches face two key challenges: (1) these models use both sparse and dense content (such as the query/title and content of documents) as inputs, which may require different attention allocations; and (2) traditional PLM-based ranking approaches have identified multiple objectives to gauge user satisfaction with ranking results, but integrating these objectives into the end-to-end training process and the subsequent feature updates and iterations usually involves significant computational resource overhead. In this paper, we propose a novel PLM-based ranking approach M2oE Rank, Multi-objective Mixture-of-Experts (MoE) enhanced Ranking. Specifically, M2oERank lever-ages a context-aware PLM-based hierarchical encoder to extract semantic relevance between the query and the document title and content, while allowing for separate dense and sparse attention for different inputs. With the extracted semantic relevance repre-sentations, multifacet user satisfaction features and task-specific annotations, M2oERank employs an MoE module to perform multi-objective pre-training of ranking models focused on user satisfaction. Finally, M2oERank uses a weight fusion module that fuses outputs from the above experts to predict ranking scores. Moreover, we present a three-stage offline training strategy and the online system workflow for deploying M2oERank at web-scale search. To demonstrate the effectiveness of our proposed approach, we conduct extensive offline and online evaluations using real-world web traffic from Baidu Search. The comparisons against numbers of advanced baselines confirmed the advantages of M2oERank in producing high-performance ranking models for web-scale search.