If this is something you are going to do occasionally on demand this tool will do what you want. If you want to add a whole bunch of x,y locations at the same time the procedure is different.
Right click next to a tool bar and bring up the customize dialog.
Click on Commands and do a search for
Go To XY
The tool should show up. You can drag it into any toolbar.
There is a drop down menu as part of the toolbar that will open when you choose this tool that you can set whatever units you are using.
How to find the point from provided latitude and longitude?