Yes, it is possible.
You can buy acid-lowering products (like potassium bicarbonate) at your winemaking supply store. You will add some little by little every few days until you achieve the desired acidity.
Also, cold stabilization, is a process where you leave your wine for about 3 weeks at a temperature between 0°C to 4°C. It precipitates tartaric acids, so this may also reduce the acidity of your wine. You will need to rack your wine about 6 weeks after the cold stabilization to get rid of the acid crystal sediments.
According to the book "Techniques in Home Winemaking", cold stabilization at a pH below 3.65 might actually increase the acidity in some cases because it will precipitate not only tartaric acid but also potassium tartrate present in the wine (the two would cancel each others effect on acidity).
Aging your wine for a few months will also mellow those acids...