You can use the Rich Content Editor to create a hyperlink.
The Rich Content Editor is used in features that support the editor (Announcements, Assignments, Discussions, Pages, Quizzes, or Syllabus).
Open Rich Content Editor
Open the Rich Content Editor using one of the Canvas features which support the Editor.
Insert your content into the Rich Content Editor. Highlight the text where you want to create a hyperlink.
Paste or type the URL you want to link to in the URL field . Click the Insert Link button .
Note: The text will flash yellow before turning into the hyperlink.
Click the Save button.
Note: When using the Rich Content Editor in Discussions, the Save button may appear as “Post Reply”.