[Casimiro Noteví]

Si es una versión muy antigua de delphi entonces tendrás que añadir jpeg al uses.

Código Delphi [-]
procedure TForm1.DBGrid1DrawColumnCell(Sender: TObject; const Rect: TRect;
  DataCol: Integer; Column: TColumn; State: TGridDrawState);
var
  BlobStream: TStream;
  JpegImage: TJpegImage;
begin
  if Column.FieldName = 'ImageField' then
  begin
    JpegImage := TJpegImage.Create;
    try
      BlobStream := DBGrid1.DataSource.DataSet.CreateBlobStream(Column.Field, bmRead);
      try
        JpegImage.LoadFromStream(BlobStream);
        DBGrid1.Canvas.StretchDraw(Rect, JpegImage);
      finally
        BlobStream.Free;
      end;
    finally
      JpegImage.Free;
    end;
  end
  else
    DBGrid1.DefaultDrawColumnCell(Rect, DataCol, Column, State);
end;