how to save a photo as a hyperlink

The URL is the web address that points to the photo. If the photo is on your computer, then it has no URL.

If you want to get the URL of a photo on a website it depends on how its presented. Generally command+click (right click) on the photo and select "Copy Image Address" or something like that should be one of the options.

You cannot do that; if you could, you would give some stranger access to your information on your computer. That is not a good idea.

Just send the person the actual photo or image as an attachment to an email.

The question makes no sense.

to make a hyperlink you need to be working in a HTML document. That links one HTML document to another one - the basic links that make the internet work.

Are you trying to add an image to a Word File? Or what?

Just a link? Not the actual image... so that when you click the link the photo appears?

A hyperlink would just be a bit of text that when clicked directs to the picture.

If the document is opened on someone else's computer, and they don't have the image, the link would do nothing.

To insert a link see here: https://support.office.com/en-us/article/create-or-edit-a-hyperlink-in-office-for-mac-68968ad1-a64d-4149-b814-59050e3a9c60