Possibly, expand f to first order in y
Series[f[x, y], {y, y0, 1}] // Normal;
(Solve[(% /. y - y0 -> z) == 0, z] /. z -> y - y0)[[1, 1]]
(* y - y0 -> -(f[x, y0]/Derivative[0, 1][f][x, y0]) *)
Then, the right side of the last expression can be expanded in x to the desired power. For instance,
Series[%[[2]], {x, x0, 2}] // Normal
(* -(f[x0, y0]/Derivative[0, 1][f][x0, y0]) +
((x - x0)*(-(Derivative[0, 1][f][x0, y0]*Derivative[1, 0][f][x0, y0]) +
f[x0, y0]*Derivative[1, 1][f][x0, y0]))/Derivative[0, 1][f][x0, y0]^2 +
((x - x0)^2*(2*Derivative[0, 1][f][x0, y0]*Derivative[1, 0][f][x0, y0]*
Derivative[1, 1][f][x0, y0] - 2*f[x0, y0]*Derivative[1, 1][f][x0, y0]^2 -
Derivative[0, 1][f][x0, y0]^2*Derivative[2, 0][f][x0, y0] +
f[x0, y0]*Derivative[0, 1][f][x0, y0]*Derivative[2, 1][f][x0, y0]))/
(2*Derivative[0, 1][f][x0, y0]^3) *)
yielding a power series, here to third order, in x - x0.
Incidentally, an illustration of the approach is given in my answer to question 94663.
f, so you'd have to be more specific. If, e.g., you can solve forx, then the series forycan be obtained directly usingInverseSeries. – Jens Sep 15 '15 at 02:56