For 2-D plots...
The function IMAGE is what you're looking for. Here's an example:
img = imread('peppers.png'); %# Load a sample image
scatter(rand(1,20)-0.5,rand(1,20)-0.5); %# Plot some random data
hold on; %# Add to the plot
image([-0.1 0.1],[0.1 -0.1],img); %# Plot the image
For 3-D plots...
The IMAGE function is no longer appropriate, as the image will not be displayed unless the axis is viewed from directly above (i.e. from along the positive z-axis). In this case you will have to create a surface in 3-D using the SURF function and texture map the image onto it. Here's an example:
[xSphere,ySphere,zSphere] = sphere(16); %# Points on a sphere
scatter3(xSphere(:),ySphere(:),zSphere(:),'.'); %# Plot the points
axis equal; %# Make the axes scales match
hold on; %# Add to the plot
xlabel('x');
ylabel('y');
zlabel('z');
img = imread('peppers.png'); %# Load a sample image
xImage = [-0.5 0.5; -0.5 0.5]; %# The x data for the image corners
yImage = [0 0; 0 0]; %# The y data for the image corners
zImage = [0.5 0.5; -0.5 -0.5]; %# The z data for the image corners
surf(xImage,yImage,zImage,... %# Plot the surface
'CData',img,...
'FaceColor','texturemap');
Note that this surface is fixed in space, so the image will not always be directly facing the camera as you rotate the axes. If you want the texture-mapped surface to automatically rotate so that it is always perpendicular to the line of sight of the camera, it's a much more involved process.