Standalone Arduino chip

I have upload the necessary code in my arduino. Now I want to remove the atmega chip and place it in my custom pcb which has the necessary digital and analog connectons for my project. Is is possible ?

Yes.

Make sure you have 0.1uF caps on the VCC, AVCC, and Aref pins. Do not connect Aref to +5. Connect AVcc to +5. Connect both grounds. Make sure you have a 16MHz xtal/caps or a resonator. Make sure you have a 10k pullup resistor to +5 on the Reset pin.