To be honest, this is a feature missing IMHO. So, in my typical get it done because I need it now way (handcoding), you can take care of this situation. First, there's a an example, supplied with DNN when you first install it. There in the right panel is a Text/HTML module named 'Sponsors'. In this module images have been placed that link to the various url's that are linked via images within the modules html code. It looks like this:
<center>
<a href="http://www.perpetualmotion.ca"> <img alt="Perpetual Motion Interactive Systems Inc." src="PerpetualMotion.gif" border="0" /> </a>
<a href="http://www.asp.net"> <img alt="The Official Microsoft ASP.NET Site" src="aspnet.gif" border="0" /> </a>
<a href="http://www.maximumasp.com"> <img alt="MaximumASP - Serious Web Hosting For Serious Microsoft Developers" src="MaximumASP.gif" border="0" /> </a>
<a href="http://sourcegear.com/"> <img alt="SourceGear - Tools for Developers" src="sourcegear.gif" border="0" /> </a>
<a href="http://www.telerik.com/dnn/"> <img alt="Telerik - The Most Comprehensive Toolset For ASP.NET" src="telerik.gif" border="0" /> </a>
</center>
You can see that this implementation is nothing more than good old fashioned html coding, so if you have sole repsponsibility as an Admin for your site, and are HTML saavy, you can use this approach. It is not exactly user friendly for those w/o html knowledge, but it isn't that difficult.
Now, another approach which gives you a bit more flexibility is to use the XML/XSL module. This approach requires knowledge of xml/xsl, but again, if you have some experience, and sole responsibility as Admin for your site, it's a pretty slick way to do it. I used this method to quickly bring in a DNN version of an existing web site that wanted to use images in a navbar in the left pane to link to other areas of the site. With this approach, I created a custom xml file to define the links, then created a custom xsl to transform it. Because the site has a need to display date sensitive navlinks, I was able to add code in the xsl to filter the source xml file displaying content based on PubDate, and DateExpire info in the source xml. It works pretty nice.
I understood that some new features were being added to the Links module to include image links capability, and there are some commercial ImageLinks DNN modules available. However, my responsibility was to bring the feature in at no added cost, and had to be done quickly, so I couldn't wait for the DNN module to be upgraded, and had no time to add it to the base code myself. Using XML/XSL gave me a way to provide a quick solution.
Hope this helps you. If you are interested in the XML/XSL approach let me know.
Cheers,
iwonder