The verb replace has 4 senses (first 4 from tagged texts)
1. (26) replace -- (substitute a person or thing for (another that is broken or inefficient or lost or no longer working or yielding what is expected); "He replaced the old razor blade"; "We need to replace the secretary that left a month ago"; "the insurance will replace the lost income"; "This antique vase can never be replaced")
2. (22) supplant, replace, supersede, supervene upon, supercede -- (take the place or move into the position of; "Smith replaced Miller as CEO after Miller left"; "the computer has supplanted the slide rule"; "Mary replaced Susan as the team's captain and the highest-ranked player in the school")
3. (10) substitute, replace -- (put in the place of another; switch seemingly equivalent items; "the con artist replaced the original with a fake Rembrandt"; "substitute regular milk with fat-free milk")
4. (7) replace, put back -- (put something back where it belongs; "replace the book on the shelf after you have finished reading it"; "please put the clean dishes back in the cabinet when you have washed them")