Remove Hyperlinks in Microsoft Excel
Sure, you can use a macro if you do this on a regular basis. Click here to learn how from Excel MVP J. E. McGimpsey. Thanks to Dave McRitchie for pointing it out for us.
Excel 2000 and Below
Manually, you can copy, open Word, Edit Paste Special as unformatted text, then copy back.
See what Microsoft has to say about preventing their creation.
Excel 2002 and Above
If you just need to do this from time to time, select the cells and copy them. Don't move your cursor! Hit Edit Paste Special, choose Values, and hit OK.
Each method removes the underlying hyperlink, but not the text.