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However you can do it via either
1) A the robots meta tag
<meta name="robots" content="index,nofollow">
This tells a bot to index the page, but not any links it find in that page.
Advantage: you only have to do it once per page in the header.
Disadvantage: This will be for all links in the page, it is not selective to outbound links, but will include internal ones.
See [robotstxt.org...] for more details
2) The attribute nofollow
e.g <a href="http://www.example.com" rel="nofollow">
Advantage: It allows you to selectively tell a bot not to follow certain links
Disadvantage: You have to do it for each link.
Depending on what you have and are trying to achieve will determine which one you should use.