Remove NVIDIA Control Panel from Desktop Right-Click Menu

Buikt in option to disable the toolbar.
Right click on the desktop and then choose the NVIDIA toolbar options. Go to View option and then uncheck Add Desktop Context Menu.
After this you will observe that the right click option will b gone..
2) Remove NVIDIA Control Panel from Desktop Right-Click Menu

Remove With a Registry Hack

If you want to remove it from your registry permanently, you can open up regedit.exe through the start menu search or run box, and then browse the following:

HKEY_CLASSES_ROOTDirectoryBackgroundshellexContextMenuHandlers

Then find the NvCplDesktopContext key on the left side, and then make sure to take the current key out to a file for personal backup. Once done that, delete that key.

Disable the Extension

If you don’t want that shell extension loading at all, you can use the awesome Nirsoft ShellExView application to just completely disable the extension and prevent it from running.

Note: make sure to launch ShellExView by right-clicking and choosing Run as Administrator if you are using Vista.
Find “DesktopContextClass” with the description “NVIDIA Display Properties Extension”, and click the Disable button.
As soon as you use the Disable button, the menu item will be gone.