Write an English script of the show's storyline. The English captions will help you translate the words, but you may need to adjust some lines, expanding or contracting phrases to get them close to the characters' mouth movements.
Enlist a cast to perform the character voices. Any friends who are anime fans may be glad to volunteer. You can also post messages online for other anime fans to audition.
Send your cast copies of your adapted script. It's best to give each the full version instead of just their own lines. Knowing the whole scenes will help them get in character.
Collect the recordings of their voiceover lines. It may help to know what audio program each member recorded with to make sure you can play each back once they are sent.
Edit out the original dialogue from your recording and add your own lines. This can be the most difficult task, depending on how your movie making and sound software allow you to split tracks and mute selected sound.
Select a medium to distribute your dubbed anime. You can burn the episodes onto DVDs to give to your friends, or you can upload them onto a public file sharing website for the world to see.