|The genuine Microsoft svchost.exe is located in the "C:\Windows\System32" folder.|
If you find it anywhere else it is malware pretending to be the genuine version so that you will be reluctant to remove it.
If the "svchost.exe" that you are referring to is not in "C:\Windows\System32" folder, you should delete it.
If it keeps coming back or won't delete, you need to download 'HijackThis', run it and post it's log-file for someone to analyse and give you further instructions. I do not analyse HJT logs, but I'm sure someone on this forum does.
When you have finally removed it and you are 'clean', you must delete all your Restore points because the trojan will also have been saved in there as well.