Launch Regedit.exe and explore:
If you are using the XP style start menu:
HKEY_CURRENT_USER\SOFTWARE\Microsoft\Windows\Curre
ntVersion\Explorer\HideDesktopIcons\NewStartPanel\
if working with the classic menu:
HKEY_CURRENT_USER\SOFTWARE\Microsoft\Windows\Curre
ntVersion\Explorer\HideDesktopIcons\ClassicStartMe
nu\
Inside, Make new DWORD-Value with the name "{645FF040-5081-101B-9F08-00AA002F954E}" & ´Modify´ Value "1"
That will just hide the Recycle bin icon,
If a Dock is installed, by this procedure the ´Recycle bin´ Docklet won´t be anyhow affected as by some other Tweaks.
To restore the desktop icon again, just ´Modify´ the same DWORD-Value to "0"