Yes, you just need to set the text as hidden.
Before you do that, you need to turn on the display of hidden text by clicking
File -> under help
Display. Then in the section
Always show these formatting marks on the screen make sure that
Hidden text is checked.
Now, select the text you want to hide, right-click it, and go to
Font... dialog. In the dialog, the middle section is called
Effects where the last (bottom-right) option is
Hidden; check it. The text will now be displayed with a faint dotted underline and won't print.
If you have some data in a table that you want to hide but want to keep the table, you need to go cell by cell selecting just the text (when a cell is selected, the whole area is blue) and mark it hidden. If you want to hide the whole table, select the entire table and click the square button in the lower-right corner of the
Font group in the
Home tab to bring up