Oracle DateTime in Where Clause?

Yes: TIME_CREATED contains a date and a time. Use TRUNC to strip the time:

SELECT EMP_NAME, DEPT
FROM EMPLOYEE
WHERE TRUNC(TIME_CREATED) = TO_DATE('26/JAN/2011','dd/mon/yyyy')

UPDATE:
As Dave Costa points out in the comment below, this will prevent Oracle from using the index of the column TIME_CREATED if it exists. An alternative approach without this problem is this:

SELECT EMP_NAME, DEPT
FROM EMPLOYEE
WHERE TIME_CREATED >= TO_DATE('26/JAN/2011','dd/mon/yyyy') 
      AND TIME_CREATED < TO_DATE('26/JAN/2011','dd/mon/yyyy') + 1

You can also use the following to include the TIME portion in your query:

SELECT EMP_NAME
     , DEPT
  FROM EMPLOYEE 
 WHERE TIME_CREATED >= TO_DATE('26/JAN/2011 00:00:00', 'dd/mon/yyyy HH24:MI:SS');

You could also do:

SELECT EMP_NAME, DEPT
FROM EMPLOYEE
WHERE TRUNC(TIME_CREATED) = DATE '2011-01-26'

This is because a DATE column in Oracle also contains a time part. The result of the to_date() function is a date with the time set to 00:00:00 and thus it probably doesn't match any rows in the table.

You should use:

SELECT EMP_NAME, DEPT
FROM EMPLOYEE
WHERE trunc(TIME_CREATED) = TO_DATE('26/JAN/2011','dd/mon/yyyy')