Creates a shortcut or jump that opens a document stored on a network server, an intranet, or the Internet. When you click the cell that contains the HYPERLINK function, Microsoft Excel opens the file stored at link_location.
Syntax
HYPERLINK(link_location,friendly_name)
Link_location is the path and file name to the document to be opened as text. Link_location can refer to a place in a document
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Link_location can be a text string enclosed in quotation marks or a cell that contains the link as a text string.
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If the jump specified in link_location does not exist or cannot be navigated, an error appears when you click the cell.
Friendly_name is the jump text or numeric value that is displayed in the cell. Friendly_name is displayed in blue and is underlined. If friendly_name is omitted, the cell displays the link_location as the jump text.
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Friendly_name can be a value, a text string, a name, or a cell that contains the jump text or value.
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If friendly_name returns an error value (for example, #VALUE!), the cell displays the error instead of the jump text.
Remark
To select a cell that has a hyperlink in it without jumping to the hyperlink destination, click the cell and hold the mouse button until the cursor becomes a cross 
, then release the mouse button.
Examples
The following example opens a worksheet named Budget Report.xls that is stored on the Internet at the location named example.microsoft.com/report and displays the text "Click for report":
=HYPERLINK("http://example.microsoft.com/report/budget report.xls", "Click for report")
The following example creates a hyperlink to cell F10 on the worksheet named Annual in the workbook Budget Report.xls, which is stored on the Internet at the location named example.microsoft.com/report. The cell on the worksheet that contains the hyperlink displays the contents of cell D1 as the jump text:
=HYPERLINK("[http://example.microsoft.com/report/budget report.xls]Annual!F10", D1)
The following example creates a hyperlink to the range named DeptTotal on the worksheet named First Quarter in the workbook Budget Report.xls, which is stored on the Internet at the location named example.microsoft.com/report. The cell on the worksheet that contains the hyperlink displays the text "Click to see First Quarter Department Total":
=HYPERLINK("[http://example.microsoft.com/report/budget report.xls]First Quarter!DeptTotal", "Click to see First Quarter Department Total")
To create a hyperlink to a specific location in a Microsoft Word document, you must use a bookmark to define the location you want to jump to in the document. The following example creates a hyperlink to the bookmark named QrtlyProfits in the document named Annual Report.doc located at example.microsoft.com:
=HYPERLINK("[http://example.microsoft.com/Annual Report.doc]QrtlyProfits", "Quarterly Profit Report")
In Excel for Windows, the following example displays the contents of cell D5 as the jump text in the cell and opens the file named 1stqtr.xls, which is stored on the server named FINANCE in the Statements share. This example uses a UNC path:
=HYPERLINK("\\FINANCE\Statements\1stqtr.xls", D5)
The following example opens the file 1stqtr.xls in Excel for Windows that is stored in a directory named Finance on drive D, and displays the numeric value stored in cell H10:
=HYPERLINK("D:\FINANCE\1stqtr.xls", H10)
In Excel for Windows, the following example creates a hyperlink to the area named Totals in another (external) workbook, Mybook.xls:
=HYPERLINK("[C:\My Documents\Mybook.xls]Totals")
In Microsoft Excel for the Macintosh, the following example displays "Click here" in the cell and opens the file named First Quarter that is stored in a folder named Budget Reports on the hard drive named Macintosh HD:
=HYPERLINK("Macintosh HD:Budget Reports:First Quarter", "Click here")
You can create hyperlinks within a worksheet to jump from one cell to another cell. For example, if the active worksheet is the sheet named June in the workbook named Budget, the following formula creates a hyperlink to cell E56. The link text itself is the value in cell E56.
=HYPERLINK("[Budget]June!E56", E56)
To jump to a different sheet in the same workbook, change the name of the sheet in the link. In the previous example, to create a link to cell E56 on the September sheet, change the word "June" to "September."