Step 1: Use Mozilla Firefox (of course!).
Step 2: Install "Advanced URL Builder" firefox extention.

Step 3: Restart your firefox.
Step 4: Highlight a link, then right click to bring the context menu. Then select "Find using..." and then "Options..."

Step 5: Under Name, Enter "Google Translate". Under URL, enter:
Code:
http://translate.google.com/translate?langpair=ja%7Cen&hl=en&ie=UTF-8&u=
...and then click on the "Add" button.

Voila! From now on, just highlight the text and select "Find using..." and then select "Google Translate". All your links will be translated and opened in a new tab.
-EasyPrey
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