In Chicago style, when you don’t just refer to an image but actually include it in your paper, the image should be formatted as a figure. Place the figure before or after the first paragraph where it is mentioned. Refer to figures by their numbers in the text (e.g. “see fig. 1”).
Below the figure, place a caption providing the figure number followed by a period (e.g. “Figure 1.”), a reference to the source (if you didn’t create the image yourself), and any relevant information to help the reader understand the image (if needed).
The caption is single-spaced and left-aligned, and followed by a blank line before the continuation of the main text.