Yes. In fact there are several ways depending on whether you are linking to locations from the internet or to files found on your computer or on a shared directory.
To what do you want to link?
can all be used in "hyperlinks" to other files/web locations.
I was hoping for a traditional <a href="url">Click Me!</a> sort of hyperlink, but I think I can accomplish what I want with a text 'button' (coloured blue and underlined!) and Open URL Script