Can the excess skin inside my belly button be removed and at the same time re-shape the belly button? (Photo)

Hello, thank you for your question. Based on what your concerns are, you may benefit from an umbilicoplasty. It involves going in to deepen the belly button and reshaping it to your desired look, I recommend you consult with a Board-certified plastic surgeon for optimal results. 

It is possible to remove the excess skin.  This is done under local anesthetic in the office.There  should be no additional visible scar.  The shape is already a vertical oval which is a good shape, so after  removal of excess skin I  would not expect to try to alter the shape itself.

It is possible to remove some skin inside BB to make it shallower; scar can be still hidden inside BB. However, changing the shape of BB will create an external scar that you may not like. In person consultation with a board certified plastic surgeon is recommended. Good luck.