If I understand what you are looking for, Excel does not have a built in double log option for a plot.
The most straightforward way I can think of is to compute the first log, then plot that on a log/log plot (comma delimited).
In the event you need more flexibility, calculate the double log of y and the log of x, and plot those.
In either case, if you need the axes labeled with the actual y and x [rather than log(log(y)) and log(x)], you can create a dummy series for each axis, then label it with Rob Bovey's free XY chart labeler add-in (a quick search of this forum should locate the download page for this).
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