Source : Webster's Revised Unabridged Dictionary (1913)

Replaceable \Re*place"a*ble\ (r?-pl?s"?-b'l), a.
   1. Capable or admitting of being put back into a place.

   2. Admitting of having its place supplied by a like thing or
      an equivalent; as, the lost book is replaceable.

   3. (Chem.) Capable of being replaced (by), or of being
      exchanged (for); as, the hydrogen of acids is replaceable
      by metals or by basic radicals.

Source : WordNet®

replaceable
     adj : capable of being replaced [ant: {irreplaceable}]