I presume you have got a point shape fileshapefile which you want to turn into raster. There
There is an arcmapArcMap 10 tool Point to Raster (Conversion) that should do the job. You
You can set raster cell size and output raster image format, ie, .tif, .img etc.
More info can be found under the following link: http://help.arcgis.com/en/arcgisdesktop/10.0/help/index.html#//00120000002z000000
Hope that helps!