When you delete a file or folder,it goes into the Recycle bin, where you have a chance to restore it.
The file is returned to its original location.
Note: If you're signed into OneDrive with a Microsoft account, items in the recycle bin are automatically deleted 30 days after they're put there. If your recycle bin is full, the oldest items will be automatically deleted after three days. If you're signed in with a work or school account, items in the recycle bin are automatically deleted after 93 days, unless the administrator has changed the setting.