Babar is correct, OneAgent rotates files. 5 files with a limit of 10 MB.
There might be some differences here and there but this is the general approach.
OneAgent also ages logs based on time, quantity and size.
That is used when we want the logs to remain for future debug purpose, e.g. installation logs.
In that case we keep the files after installation/updates and they are simply removed after a certain period of time, or too much of them were created, or they take too much space.
Lastly, in extreme situations when "low hdd" alert was created, we just remove all logs with a few exceptions.