I found out this simple trick when I was doing some changes in my HTML. This is very easy. Do not forget to always backup your HTML so you don't lose any data. I am going to remove the 'Home' text with this icon.
Go to your blogger dashboard > design > edit HTML.
a. Look for this code:
<a class='home-link' expr:href='data:blog.homepageUrl'><data:homeMsg/>
b. Replace the highlighted part with this one:
<img src='your link here' style='border: 0 none;vertical-align: middle;'/>
(insert the direct link of your image in the highlighted location)
c. Save template.
