There is no effective way to completely get rid of a love bit other than giving it time to heal. A love bite is basically the same thing as a bruise, and it takes bruises time to fade.
Applying a cold compress to the area after it occurs can help fade the love bite. Drinking a lot of water can decrease the time it takes for the love bite to go away, as well as regular application of vitamin E cream.
The best way to get rid of a love bite is not to get one in the first place or to get it in a place where it can be easily concealed.