To edit a hyperlink in Excel, first select the cell that contains the hyperlink. Then, click the Edit Hyperlink button on the Insert tab of the ribbon. In the Edit Hyperlink dialog box, make the desired changes to the hyperlink address, display text, or both. When you're finished making changes, click OK.

You can also edit a hyperlink by right-clicking on it and selecting Edit Hyperlink from the context menu. This will open the Edit Hyperlink dialog box where you can make your changes.

Note: If you want to remove a hyperlink completely, select the cell that contains the hyperlink and then press Ctrl+Shift+F9. This shortcut will remove all hyperlinks from the selected cells.