Link in blog with picture and excerpt

I would like to link to an article in my blog.

Like when you post a link on your facebook wall. All you have to do is paste the url and the link shows with a picture and a small text.

Is it possible to do the same on my blog? I do not want to create a picture with a link(I know how to do that).

Some people I have asked says that I should paste the url in my blog and it will automatically show up like a picture with the headline of the article but I have tried and is doesn’t work.