This tutorial will help you in removing "Favorites" item from the Navigation pane as shown in following screenshot:

Simply follow these simple steps:
1. Type
regedit in RUN or startmenu search box and press Enter. It'll open Registry Editor.
2. Now go to following key:
HKEY_CLASSES_ROOT\CLSID\{323CA680-C24D-4099-B94D-446DD2D7249E}\ShellFolder
3. Now you'll need to change value of "
Attributes" DWORD value present in the right-side section. But Windows will not allow you to change its value as you won't have proper permissions.
To get permissions, first right-click on "
ShellFolder" key and select "
Permissions".

It'll open a new window. Select "
Administrators" in user list and check "
Allow" box given for "
Full Control" permission.

Click on OK button to apply the changes.
4. Now double-click on "
Attributes" DWORD value given in right-side section and change its value to
a9400100 5. That's it. Log off or restart your system and "Favorites" will no longer present in Explorer window.
NOTE: If you want to restore "Favorites" in Navigation pane, simply change value of "
Attributes" DWORD to
a0900100 using step 4.