diff --git a/index.d.ts b/index.d.ts
index 8937b6937..f5ddf294a 100644
--- a/index.d.ts
+++ b/index.d.ts
@@ -78,6 +78,7 @@ export {DelimiterCasedPropertiesDeep} from './source/delimiter-cased-properties-
 export {Join} from './source/join';
 export {Split} from './source/split';
 export {Trim} from './source/trim';
+export {Replace} from './source/replace';
 export {Includes} from './source/includes';
 export {Get} from './source/get';
 export {LastArrayElement} from './source/last-array-element';
diff --git a/readme.md b/readme.md
index 3d9ac2f54..f22746a6f 100644
--- a/readme.md
+++ b/readme.md
@@ -210,6 +210,7 @@ Click the type names for complete docs.
 
 - [`Trim`](source/trim.d.ts) - Remove leading and trailing spaces from a string.
 - [`Split`](source/split.d.ts) - Represents an array of strings split using a given character or character set.
+- [`Replace`](source/replace.d.ts) - Represents a string with some or all matches replaced by a replacement.
 
 ### Array
 
diff --git a/source/replace.d.ts b/source/replace.d.ts
new file mode 100644
index 000000000..df523a999
--- /dev/null
+++ b/source/replace.d.ts
@@ -0,0 +1,67 @@
+type ReplaceOptions = {
+	all?: boolean;
+};
+
+/**
+Represents a string with some or all matches replaced by a replacement.
+
+Use-case:
+- `snake-case-path` to `dotted.path.notation`
+- Changing date/time format: `01-08-2042` → `01/08/2042`
+- Manipulation of type properties, for example, removal of prefixes
+
+@example
+```
+import {Replace} from 'type-fest';
+
+declare function replace<
+	Input extends string,
+	Search extends string,
+	Replacement extends string
+>(
+	input: Input,
+	search: Search,
+	replacement: Replacement
+): Replace<Input, Search, Replacement>;
+
+declare function replaceAll<
+	Input extends string,
+	Search extends string,
+	Replacement extends string
+>(
+	input: Input,
+	search: Search,
+	replacement: Replacement
+): Replace<Input, Search, Replacement, {all: true}>;
+
+// The return type is the exact string literal, not just `string`.
+
+replace('hello ?', '?', '🦄');
+//=> 'hello 🦄'
+
+replace('hello ??', '?', '❓');
+//=> 'hello ❓?'
+
+replaceAll('10:42:00', ':', '-');
+//=> '10-42-00'
+
+replaceAll('__userName__', '__', '');
+//=> 'userName'
+
+replaceAll('My Cool Title', ' ', '');
+//=> 'MyCoolTitle'
+```
+
+@category String
+@category Template literal
+*/
+export type Replace<
+	Input extends string,
+	Search extends string,
+	Replacement extends string,
+	Options extends ReplaceOptions = {},
+> = Input extends `${infer Head}${Search}${infer Tail}`
+	? Options['all'] extends true
+		? Replace<`${Head}${Replacement}${Tail}`, Search, Replacement, Options>
+		: `${Head}${Replacement}${Tail}`
+	: Input;
diff --git a/test-d/replace.ts b/test-d/replace.ts
new file mode 100644
index 000000000..371d02423
--- /dev/null
+++ b/test-d/replace.ts
@@ -0,0 +1,28 @@
+import {expectType} from 'tsd';
+import type {Replace} from '../index';
+
+declare function replace<
+	Input extends string,
+	Search extends string,
+	Replacement extends string,
+>(
+	input: Input,
+	search: Search,
+	replacement: Replacement
+): Replace<Input, Search, Replacement>;
+
+declare function replaceAll<
+	Input extends string,
+	Search extends string,
+	Replacement extends string,
+>(
+	input: Input,
+	search: Search,
+	replacement: Replacement
+): Replace<Input, Search, Replacement, {all: true}>;
+
+expectType<'hello 🦄'>(replace('hello ?', '?', '🦄'));
+expectType<'hello ❓?'>(replace('hello ??', '?', '❓'));
+expectType<'10-42-00'>(replaceAll('10:42:00', ':', '-'));
+expectType<'userName'>(replaceAll('__userName__', '__', ''));
+expectType<'MyCoolTitle'>(replaceAll('My Cool Title', ' ', ''));