Select the text you want to turn into a hyperlink and click "Insert/Edit link"
A pop-up window will appear. This window will show properties that can be edited. The first thing to do is entering the url of your hyperlink. The target property will enable you to control weather the link should be opened in a new window, of in the current window.
When you have set all properties, click "Insert" to create the link. The second pop-up window will close, and the selected text will behave as a hyperlink.