Creating a Virtual Machine
This tutorial is a little old and uses an older version of VirtualBox. It also shows you how to install Linux Mint 12 (Lisa) 32-bit in it. If you are using a newer version of VirtualBox and installing a different version of Mint or a 64-bit version (most likely), all of the information is the same, but instead of seeing "12" and 32-bit, as in the screenshots below, you will be seeing your version number and/or 64-bit.
Update: In order to get VirtualBox to work with 64-bit (and some 32-bit) virtual machines, you must enable virtualization in the BIOS on the motherboard. How you do that depends on the motherboard (vendor) that you have. Here is a video that demonstrates how to do it on an Asus motherboard. Your motherboard may be different, but the steps will likely be similar. If you don't know what BIOS you have, you may have to Google for your motherboard.
Click Next to move to the next window.
Click Next to continue.
Click Next to continue.
Click Next to continue.
Click Next to continue.
Click Next to continue.
Click Next to continue.
Click Create to create the virtual disk and continue.
Click Create to create the virtual machine and continue.
Click OK to save your changes, or Cancel to discard them.
Running a Virtual Machine
At this point, we've created the virtual machine. Our virtual machine is much like a new computer that doesn't have an operating system installed. We can't do anything until we have an OS. So, the next step is to install an operating system on it. In this case, we are going to install Linux Mint as our operating system. In the VirtualBox Manager, select the virtual machine to boot, and click the Start button.Click Next to continue.
In the example, the host's DVD drive is drive D, but we want to use the .iso file. Click on the folder icon to the right of the drop-down box, and you will be presented with a dialog box that you can use to browse the filesystem and locate the .iso file.
Click Next to continue.
Click Start to boot off of the .iso file.
Simply double-click the Install Linux Mint icon and follow the instructions. You can accept all of the defaults. You install it just like you would install any operating system onto a physical computer. The installer doesn't know it is installing itself in a virtual machine.
Installing Linux Mint
Click Continue to continue.
Click Continue to continue.
Click Continue to continue.
Click Install Now to continue.
Click Continue to continue.
Click Continue to continue.
Click Continue to continue.
Click Restart Now to reboot the virtual machine.
Press the Enter key to really reboot the virtual machine.
When it restarts, you will be able to login to the machine using the username and password you created during the installation.