The first step in creating a hyperlinked image is to add the image to the page using the Image Manager. For more information on how to add images see Adding Images to your Website.
Once your image is added, you can hyperlink it by following these steps:
When editing content, click the image you would like to hyperlink to select it.
Click the Hyperlink Manager icon to open the Hyperlink Manager window.
Enter the URL of your link into the URL field, then click OK.
The image now has a hyperlink associated with it, and you can compose the rest of the page content. When finished, click Save Page to save the page.