
Many people must have tried to remove it by visiting the Edit HTML option, but they wont find theSubscribe to: Posts (Atom) part anywhere in the template. This is because it isn't written within the a href tag. However removing it is very easy.
Before you start the work, make a backup of your template as a precautionary measure. To remove it click on Layout and click on Edit HTML

Now select Expand Widget Templates. After selecting it, search for the following code in the template
<b:include name='feedLinks'/>
Once you find the code, remove it and save your template. Refresh your blog and now the Subscribe to: Posts (Atom) link wont be there on your blog.