It is possible through several means.

The reset-method makes it disappear (and then you create a replacement).

If you have nothing you want to keep at all in the commit and it happens to not be the latest one, you can as mentioned use an interactive rebase. You then mark the commit for deletion, and it’s like it never even happened. If any subsequent commits depended on changes in the deleted commit, however, you will get conflicts, as git won’t know how to apply the subsequent commits in that case.