Different ways to remove multicollinearity?

[Babloo]

What are the different ways to remove multicollinearity?

[Reeza]

Partial Least Squares regression, principle components analysis or remove one of the variables.

[PaigeMiller]

You can't "remove" multicollinearity from your data. It's in there, its not going away.

You can analyze the data in such a way that the multicollinearity has (hopefully) little effect on the results. One method is called Partial Least Squares regression, or PROC PLS in SAS. Naturally, this works only in a regression situation, other types of analyses call for other methods.