Dissolve

The Dissolve tool dissolves the selected vertices or edges, or the edges between the selected polygons.

Performing a dissolve on an vertex selection.

Performing a dissolve on an edge selection.

Performing a dissolve on a polygon selection.

Properties

Delete Isolated Vertices	Delete vertices that as a result of the dissolve now have no edges.
Delete Vertices With Two Edges	Delete vertices that as a result of the dissolve now have two edges.