That's HTML Encoding. There's no native javascript function to do that, but you can google and get some nicely done up ones.
E.g. http://sanzon.wordpress.com/2008/05/01/neat-little-html-encoding-trick-in-javascript/
EDIT:
This is what I've tested:
var div = document.createElement('div');
var text = document.createTextNode('<htmltag/>');
div.appendChild(text);
console.log(div.innerHTML);
Output: <htmltag/>
o.k.w
2009-11-24 02:04:55