With new Updater editor,we can make a link a text or picture where we like.
It is very easy now,don't bother about html/script codes.Now every , One level blogger can do it by following my below steps. :
Select text area you want to make link
You should make up into 'compose" mode and should have update editor.
Now straightly go to the update editor .Click on "LINK"
Now a Popup window will be open there.
Type the web address you want to link.
Now click on OK.
You done it.