wp_delete_link

function wp_delete_link( $link_id ) {
	global $wpdb;
	/**
	 * Fires before a link is deleted.
	 *
	 * @since 2.0.0
	 *
	 * @param int $link_id ID of the link to delete.
	 */
	do_action( 'delete_link', $link_id );

	wp_delete_object_term_relationships( $link_id, 'link_category' );

	$wpdb->delete( $wpdb->links, array( 'link_id' => $link_id ) );

	/**
	 * Fires after a link has been deleted.
	 *
	 * @since 2.2.0
	 *
	 * @param int $link_id ID of the deleted link.
	 */
	do_action( 'deleted_link', $link_id );

	clean_bookmark_cache( $link_id );

	return true;
}