Emerton and Zoran's answers completely answer the question as stated, but there's another way to think about affine morphisms that is worth mentioning.
Given any quasi-compact and quasi-separated morphism of schemes $f:Xto Y$, $newcommand{O}{mathcal O}f_*O_X$ is a quasi-coherent sheaf of $O_Y$-algebras. This functor has an adjoint, called relative $Spec_Y$, or relative Spec. Given a quasi-coherent sheaf of $O_Y$-algebras $newcommand{A}{mathcal A}A$, we get a scheme over $Y$, $phi^A:Spec_Y Ato Y$, with the property that $phi^A_*(O_{Spec_Y A})=A$ and $Hom_Y(X,Spec_Y A)cong Hom_{O_Ytext{-alg}}(A,f_*O_X)$ for any $f:Xto Y$. A morphism $f:Xto Y$ is affine if and only if $Xcong Spec_Y(A)$ (as a $Y$-scheme) for some $A$ (which must be $f_*O_X$). See EGA II §1 for this development of affine morphisms.
I find this way of thinking about affine morphisms is useful for two reasons. First, if I'm working with a bunch of schemes affine over $Y$, it's often easier for me to think about a bunch of $O_Y$-algebras with algebra morphisms between them. Second, the adjunction in the previous paragraph tells you that any (quasi-compact quasi-separated) morphism $f:Xto Y$ has a canonical factorization through an affine morphism $Xto Spec_Y(f_*O_X)to Y$, called the Stein factorization (the first morphism is Stein, meaning that the structure sheaf pushes forward to the structure sheaf). This factorization is often extremely handy; for example, if a morphism is quasi-affine, the Stein factorization is a witness of its quasi-affineness.
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