Limit your intake of foods full of saturated fats, trans fats, and dietary cholesterol. Eat a lot more fiber-rich foods (especially soluble fiber from foods like beans, oats, barley, fruits, and vegetables).
Diet is not enough. You need a combination of things to lower your cholestrol
Reduce your sugar intake as most of the cholesterol is made by your liver. If you reduce sugar then sugar spikes get less and thus less cholesterol is need to be made to purify blood.
Lots of exercise and good fats. Fish oil, fish and olive oils in cooking. Oat meal is supposed to be good, also.
Diet won't get you there depending on your goals. Your diet only accounts for 10% of your serum cholesterol levels so a 10% reduction would be the bets you could hope for by eliminating all cholesterol. Exercise helps because it helps increase the level of your HDL, the good cholesterol. HDL binds with LDL and returns it to your liver to either recycle it so less is created or eliminate it from your blood. That too depends on you, your numbers and your goals. I need to know more about you to really give you a good answer, your age, gender and LDL level as well as total cholesterol.
Diet and regular exercise
a low fat diet combined with regular exercise both aerobic and weight bearing