When you insert a picture, you can choose an alignment option from the Layout section of either the Insert picture or the Picture properties pop-up window.
Click the Alignment drop-down list and choose one of the following options, depending on how you want to align your picture:
Baseline - the image is aligned with the baseline of the adjacent text.
Left - the image is aligned with the left margin; the text is able to wrap around the image.
Right - the image is aligned with the right margin; the text is able to wrap around the image.
Top - the top of the image is aligned with the top of the largest item in the line of text.
Middle - the middle of the image is aligned with the middle of the line of text.
Bottom - the bottom of the image is aligned with the bottom of the line of text.
Click OK.