Presuming the focus is on hyperlinks (not simple link formulas),
as per your subject line

For the initial hyperlink to Sheet2's B7, try:
=HYPERLINK("#"&CELL("address",INDIRECT("'Sheet2'!B "&ROW(Sheet2!B7))),"MyLink")

Tested here, works ok with the stated row insertions. Insert 2 rows in
Sheet2 above row 7, the hyperlink above will adjust & jump to B9 in Sheet2

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"Regina" wrote:
I want to create a link from one cell to another cell in a different sheet
but same workbook. But how can I get the link to follow when adding rows in
the linked to sheet?
Ie. Cell A5 in sheet1 has a link to cell B7 in sheet2.
If I add 2 rows to sheet2 so my previous cell B7 is now B9. I want the link
now to go to B9 in sheet2.
Is this possible, and if so how?