The Archived Folder is a folder available to every customer by default for your Lists and Mailings. You can move a List or Mailing to the Archived Folder. Once that list or mailing has been archived it will prevent it from being loaded when accessing the List or Mailings tab, scheduling a mailing, or any other operation. This folder's contents will only appear when you select that folder. This allows you to remove clutter from your Lists or Mailings tab without deleting data. Keep in mind, archived lists still count toward your account total.
Below is an example of moving a List to the Archived Folder: