Hi Surya,
First of all, you need to create an ODBC connection on your server. To do so, go to the install dir and then to folder server/ODBCx.0 (where x is 5, 6 or 7 depending on the version of PowerCenter). For more details, you can look at this document (page 249 - Connecting to an ODBC Data Source). There is a sample you can folow on page 251 : Informatica - 9.6.1 HotFix 2 - Installation and Configuration Guide - (English)
Once the ODBC connection is created on server side, you can proceed to the creation of the connection from the client side within Workflow Manager.
Go to the Toolbar, click on Connections > Relational. A window will appear, select "New", and choose "ODBC" in the list. In the "Connection Object Definition", you specify the information related to your MySQL database.
Finally, to be able to import Sources/Targets table using PowerCenter Developer, you can proceed as mentionned by Sreeman.
If you need more help on this, don't hesitate
Regards,
Madjid