Clipping Shapefile of Circle features using Raster in ArcGIS Desktop?

I want to keep all the features in the shapefile that lie in the raster region and reject others. How do i do this?

Data to be Clipped: Is A Shapefile of 1 mile circles.

Data I want it clipped with : is a Raster (GeoTiff or ADF).

Now I want to find out all the Circles from shapefile that overlap on the Raster.

I do not want to modify the raster here. I want those features (circles) from the Shapefile removed which do not overlap with the raster.

I have tried the tool mentioned by Dano, but tools expects a feature input in the second field, and not a raster directly.

Answer

Could you use ArcToolBox > Raster > Raster Properties > Get Raster Properties

Run the tool four times, each time setting the Property Type in the tool once to get the Top, then left, then right, then bottom coordinate of the raster.

Once you have the four corner coordinates of the raster, create an empty polygon shapefile (with the same coordinate system as your raster). Edit the empty shapefile to create a new polygon using the top, left, right, and bottom coordinates (absolute xy).

Save this shapefile and then use to clip, or intersect to get the overlapping area of your input circles.