Value of variable and database field may be inserted as hyperlink. For this use function flnk. For example: \flnk(var1)\. Value of var1 may be set to string http://www.yahoo.com or c:\docs\report1.doc. 

You may specify text name for the link using symbol "|", for example: \var1:="c:\docs\report1.doc|The last report"\ or \var1:="http://www.torry.net|Torry Delphi pages"\. 

Report generator will not change text formatting attributes for hyperlink, so you may set it by self in the report template: \flnk(var1)\ .