A highly effective method for implementing an LRU cache involves using a combination of a doubly linked list and a hash map. The doubly linked list serves to represent the cache size and track both the 'Least Recently Used' and 'Most Recently Used' elements. Meanwhile, the hash map is utilized to verify whether an item is present in the cache and to quickly access its corresponding node in the linked list. The 'get' operation requires checking for the item’s existence in the cache through the hash map and returning its value. If the item is found, the linked list must be updated to indicate that it is now the 'Most Recently Used'. If the item is not found, we can simply return -1 or null. The 'put' operation consists of adding an item to the cache. If the cache is at full capacity, we need to remove the least recently used item before adding the new one, which is located at the tail of the linked list. Both the insertion and removal processes at the head and tail of a doubly linked list, along with operations on a hash map, have a time complexity of O(1).