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In this video tutorial, Justin Conway, a Microsoft Excel expert, demonstrates how to remove a drop-down box in Excel while retaining the existing value in the selected cell. He explains that to keep a specific value, such as "apples," in a cell but eliminate the drop-down list, one should go to Data > Data Validation. There, the option can be changed from "List" to "Any Value." After selecting "OK," the drop-down will disappear, but the value will remain. He also notes that this method can be applied to an entire column of drop-downs. Additionally, he mentions the option to remove all data in the drop-down by right-clicking or using specific Mac commands.