You need to lose or burn 3,500 calories to lose one pound of body fat.
A pound of body fat contains around 3500 calories, so reducing your calorie intake by 500 per day should result in a 1lb a week reduction.
If you are aiming to lose more than one pound per week, you need to engage in cardio exercise in addition to counting calories. Cardio exercise, such as walking, jogging, cross-country skiing, etc., will significantly produce weight loss.