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

Simple and fast easy way to Insert hyperlink is Ctrl+K.

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 

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

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

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

I AGREE WITH ALL ANSWERS GIVEN  

contr +k is the shortcut key of hyperlink