A tool called logrotate can be used for rotating log files. It is a generic tool can can be configured to handle any log generated by any service.
The main configuration file of logrotate is /etc/logrotate.conf from where it picks up default setup.
It then reads service specific instructions from /etc/logrotate.d directory
The apache logrotate configuration is /etc/logrotate.d/httpd
create 644 root root
/sbin/service httpd reload > /dev/null 2>/dev/null || true