Here is a great article from Cybercity.biz. They go into a lot more detail. I have put the info below that I used:
Howto: Ubuntu Linux convert DHCP network configuration to static IP configuration
Open network configuration file
$ sudo vi /etc/network/interfaces
OR$ sudo nano /etc/network/interfaces
Find and remove dhcp entry:
iface eth0 inet dhcp
Append new network settings:
iface eth0 inet static
address 192.168.1.100
netmask 255.255.255.0
network 192.168.1.0
broadcast 192.168.1.255
gateway 192.168.1.1
Save and close the file. Restart the network:
$ sudo /etc/init.d/networking restart
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