Create a text cell and type:
Text text text
now type Ctrl-9 to start an inline cell and type
Tooltip[OutputForm@"Tooltip","Hellow World"]
now press a right arrow to get outside the inline cell and type: text text text
You should now see:
Text text text Tooltip[OutputForm@"Tooltip","Hellow World"] text text text
Now triple click the tooltip command in order to select the complete inline cell
And finally evaluate it in place (Ctrl-Shift-Enter)