Introduced in the ArcGIS Online June 2024 update, Recycle bin is an organization feature that allows supported items to be retained and restored for at least 14 days (336 hours) after they have been deleted. 

Once the recycle bin is enabled for an organization, a user deleting an item (or batch of items) will have the option to either permanently delete or send the supported items to the recycle bin, where they will remain for 14 days.