If you don't use the Recycle Bin to store deleted files , you can get rid of its desktop icon all together.
Run Regedit and go to:
HKEY_LOCAL_MACHINE\ SOFTWARE\Microsoft\Windows\ CurrentVersion\Explorer\ Desktop\NameSpace\ {645FF040-5081-101B-9F08-00AA002F954E}
Click on the Recycle Bin string in the right hand pane. Hit Del, click OK.
you are not use the recycle bin then you are try to this trick.
Note : I have try to this but if any problem then this is not my fault . you have try at your own risk and if recycle bin deleted then only format option will be recovered from the recycle bin .