As previously stated you can use CAST or CONVERT. But like many items in T-SQL "It depends". As an example ... be aware of your system date format, and of course the format of the actual data.
DECLARE @T VARCHAR(40)
SET DATEFORMAT dmy
SET @T = '2012-08-05 09:13:50.053'
SELECT CAST(@T AS DATETIME)
SET @T = '20120805 09:13:50.053'
SELECT CAST(@T AS DATETIME)
Results:
2012-05-08 09:13:50.053
2012-08-05 09:13:50.053
As is obvious the results are dramatically different. If you would post a sample of your actual data, and your systems dateformat someone may be able to assist you furter.