How can I insert a hyperlink in Microsoft office applications like Excel?

1- Select - Insert List -

2- Choose - Hyperlink Option -

Or 

CTRL + K

It is very easy.

1. Go to insert tap.
2. select Hyperlink.
3. type the address which is URL.
4. Type the text to display as a link.

Ctrl + K Displays the (Insert > Hyperlink) dialog box

kindly follow up this tutorial, It explains well what you are asking about .

hope it will be helpful for you !

https://www.youtube.com/watch?v=6Zv_CbBKcao 

Click the hyperlink and clink the icon file you need .... thats it  easy 

go to insert tab choose the hyperlink command after selecting your object wanted to be a link and a window will appear to choose the path to a specific file or write down the site you want to link it

very fast way use this short cut

Ctrl+K

I AGREE WITH ALL ANSWERS GIVEN  

Ctrl + K, press the keys together to insert a hyperlink.

 Select the Cell where have to put hyperlink and Press Ctrl+K key

 Select the File you want as hyperlink. and Press Ok Button.

1.Select the cell or graphic you want to attach a hyperlink to.You can assign the same hyperlink to multiple selected cells.

2.Click the Hyperlink button in the Links group on the Insert tab (or press Ctrl+K).The Insert Hyperlink dialog box appears.

3. If you clicked a blank cell in Step 1, you can type the text you want the cell to display in the Text to Display box.If you started with a cell that already contained data, you can change the displayed text. If you selected multiple cells, only the data in the first cell will be changed.

4.On the left, click the Existing File or Web Page button.The dialog box changes to give you options specific to Web pages and files.

5.Select or enter the hyperlink's destination.Use the tools in the center section of the dialog box to find the file or Web site you want to link to, or just type a Web site in the Address box.

6.(Optional) Click the ScreenTip button to the right of the Text to Display box to enter ScreenTip text.The ScreenTip text will appear when a user hovers the mouse pointer over the hyperlink.

7.Click OK.If you added the hyperlink to cell data, that data will appear underlined and in blue, indicating an active hyperlink.