A system and method are provided for controlling a wind turbine of a wind farm. Accordingly, a controller determines a performance differential for the wind turbine at multiple sampling intervals of a yaw event. The controller determines a trendline for the wind turbine correlating the performance differential to a deviation of a wind direction at each of the multiple sampling intervals from an first yaw angle. A difference between an angle associated with the vertex of the trendline and the first yaw angle are utilized by the controller to determine a yaw angle offset. The yaw angle offset is used to adjust a second yaw angle of the wind turbine.