I'm going to second unbridled's suggestion, facial liposuction. It's not as risky as it sounds though, we're in the 21st century. So many women get their breasts pumped full of plastic which is a complete turn off (for me at least) but it happens every day.
Facial liposuction. Its safe. The doctor will discuss the risks with you. I got a chin implant and facial lipo for $3000 (including all operating fees, they combined them otherwise it would have been $2000 each).
And let me say that about 15 months later, I am AMAZED with the results. No I'm not some model on tv selling something!
I used to have that baby face problem as well (or whatever you want to call it) and it has NOTHING to do with your body weight. I'm 6'2 and weigh 176 pounds. So dont "work out" and think its going to change things, well of course it'll change your body, but not your face. If you are fat (no offense) then yes you will have a fat face. But if you were like me, not over weight (or even just a little over weight) but still had that problem where girls would go up and squeeze your cheeks "aww you're so cute!" then I think you know what I mean.
Mick Jagger, the lead singer of Aerosmith, and the guy in the tv show JAG all have this as well, yet women are all over them.
It really depends on how you feel, and what you want. If you want to do it, do it for yourself, not for women.
Once you get the fat taken out, it cannot come back. Liposuction does that, your body cant regrow it because the actual fat cells are removed.
What they do is put you to sleep, and make two incisions, one behind each ear. They stick a tiny little tube and suck the fat out of your face, so it's sculpted to fit "you". Since I got a chin implant they also made an incision under my chin area. The incisions are small and unnoticable, and will heal and go away with time. (I cant see mine anymore.)
I really, really, am happy and glad I got this done. No more "awww he's so cute!" unless it's in a sexual way.
Keep in mind that "babyface" doesn't just go away with time, with age, with how much you weigh, it's there for life, unless you do something to get rid of it.
But, you HAVE to feel comfortable with yourself, and be happy with yourself. If you feel you are confident and happy with the way you are now, dont waste your money on this. And in the end, do it for yourself. In my opinion though, it was well worth it. Nobody even knows I had it done, I just come across as a good looking guy with a nice face and eyes to most women I meet (I've had plenty of girls compliment me), I know it, I feel it, and I show it, and in return, the women see it.
It's all about how you feel, and that's how you'll look.