I am trying yo create symbolic link on my mac, but when i try to run i get error saying original item searchMethod cannot be found

$ ln -s '/usr/bin/env python ~/Development/python/searchMethod/python/searchMethod.py' searchMethod

Assuming OSX is like all other Unices, a symbolic link is a pointer to a file or directory, not to a command as you're trying to do here. So I might do
ln -s ~/Development/python/searchMethod/python/searchMethod.py' searchMethod
so I could then type
/usr/bin/env python searchMethod

What you are trying to do is best achieved using an alias:
alias searchMethod="/usr/bin/env python ~/Development/python/searchMethod/python/searchMethod.py"