Closes the current error log file and cycles the error log extension numbers just like a server restart. The new error log contains version and copyright information and a line indicating that the new log has been created.
sp_cycle_errorlog
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Every time SQL Server is started, the current error log is renamed to errorlog.1; errorlog.1 becomes errorlog.2, errorlog.2 becomes errorlog.3, and so on. sp_cycle_errorlog enables you to cycle the error log files without stopping and starting the server.
Execute permissions for sp_cycle_errorlog are restricted to members of the sysadmin fixed server role.
EXEC sp_cycle_errorlog
| Viewing the SQL Server Error Log | System Stored Procedures |