A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data
Excel doesn't have a built-in shortcut to clear formatting, but you can use the keyboard to click the ribbon options: Alt+H, E, F.
Alternatively, create a macro in your personal macro workbook PERSONAL.XLSB:
Sub ClearFormatting()
On Error Resume Next
Selection.ClearFormats
End Sub
You can assign it to Ctrl+\ by executing
Application.OnKey "^\", "ClearFormatting"