Did you try to see what would happen.
Depends on how you entered it.
Do you want it to happen or not to happen. --
I guess since you said How that means you want it.
Generally it would be automatic.
If you enter a webpage address into a cell in Excel it
will create a hyperlink automatically. If you reenter the
content (F2 then Enter) you will create the hyperlink in Excel.
Excel 2002 and Excel 2003 users can turn this off if they don't want it.
I have a page on hyperlinks.
Build Table of Contents, similar listings, working with Hyperlinks
http://www.mvps.org/dmcritchie/excel/buildtoc.htm