You can link cells--not worksheets.

Open both workbooks.
Select the range on the "sending" worksheet.
edit|copy
select the range on the "receiving" worksheet that should be linked.
edit|Paste special|paste link

Be aware that this link isn't bidirectional.  It just retrieves data from the
sending workbook.

And if you insert/delete rows/columns in the sending workbook with the receiving
workbook closed, your formulas will still point to the original cells.

If you can pick out a unique key column in each sheet, you could use =vlookup()
or =index(match()) to retrieve values from the other worksheet.

You may want to read Debra Dalgleish's notes:
http://www.contextures.com/xlFunctions02.html  (for =vlookup())
and
http://www.contextures.com/xlFunctions03.html  (for =index(match()))