diff --git a/runtime/interpreter/value.go b/runtime/interpreter/value.go
index 891e827839..bb08c02e3f 100644
--- a/runtime/interpreter/value.go
+++ b/runtime/interpreter/value.go
@@ -1358,6 +1358,25 @@ func (v *StringValue) GetMember(interpreter *Interpreter, locationRange Location
 				return v.Split(invocation.Interpreter, invocation.LocationRange, separator.Str)
 			},
 		)
+
+	case sema.StringTypeReplaceAllFunctionName:
+		return NewHostFunctionValue(
+			interpreter,
+			sema.StringTypeReplaceAllFunctionType,
+			func(invocation Invocation) Value {
+				of, ok := invocation.Arguments[0].(*StringValue)
+				if !ok {
+					panic(errors.NewUnreachableError())
+				}
+
+				with, ok := invocation.Arguments[1].(*StringValue)
+				if !ok {
+					panic(errors.NewUnreachableError())
+				}
+
+				return v.ReplaceAll(invocation.Interpreter, invocation.LocationRange, of.Str, with.Str)
+			},
+		)
 	}
 
 	return nil
@@ -1441,6 +1460,23 @@ func (v *StringValue) Split(inter *Interpreter, locationRange LocationRange, sep
 	)
 }
 
+func (v *StringValue) ReplaceAll(inter *Interpreter, locationRange LocationRange, of string, with string) *StringValue {
+	// Over-estimate the resulting string length.
+	// In the worst case, `of` can be empty in which case, `with` will be added at every index.
+	// e.g. `of` = "", `v` = "ABC", `with` = "1": result = "1A1B1C1".
+	lengthOverEstimate := (2*len(v.Str) + 1) * len(with)
+
+	memoryUsage := common.NewStringMemoryUsage(lengthOverEstimate)
+
+	return NewStringValue(
+		inter,
+		memoryUsage,
+		func() string {
+			return strings.ReplaceAll(v.Str, of, with)
+		},
+	)
+}
+
 func (v *StringValue) Storable(storage atree.SlabStorage, address atree.Address, maxInlineSize uint64) (atree.Storable, error) {
 	return maybeLargeImmutableStorable(v, storage, address, maxInlineSize)
 }
diff --git a/runtime/sema/string_type.go b/runtime/sema/string_type.go
index 74b9baaccf..bcb562c6d6 100644
--- a/runtime/sema/string_type.go
+++ b/runtime/sema/string_type.go
@@ -116,6 +116,12 @@ func init() {
 				StringTypeSplitFunctionType,
 				StringTypeSplitFunctionDocString,
 			),
+			NewUnmeteredPublicFunctionMember(
+				t,
+				StringTypeReplaceAllFunctionName,
+				StringTypeReplaceAllFunctionType,
+				StringTypeReplaceAllFunctionDocString,
+			),
 		})
 	}
 }
@@ -163,6 +169,13 @@ It does not modify the original string.
 If either of the parameters are out of the bounds of the string, or the indices are invalid (` + "`from > upTo`" + `), then the function will fail
 `
 
+const StringTypeReplaceAllFunctionName = "replaceAll"
+const StringTypeReplaceAllFunctionDocString = `
+Returns a new string after replacing all the occurrences of parameter ` + "`of` with the parameter `with`" + `.
+
+If ` + "`with`" + ` is empty, it matches at the beginning of the string and after each UTF-8 sequence, yielding k+1 replacements for a string of length k.
+`
+
 // ByteArrayType represents the type [UInt8]
 var ByteArrayType = &VariableSizedType{
 	Type: UInt8Type,
@@ -361,3 +374,18 @@ var StringTypeSplitFunctionType = NewSimpleFunctionType(
 		},
 	),
 )
+
+var StringTypeReplaceAllFunctionType = NewSimpleFunctionType(
+	FunctionPurityView,
+	[]Parameter{
+		{
+			Identifier:     "of",
+			TypeAnnotation: StringTypeAnnotation,
+		},
+		{
+			Identifier:     "with",
+			TypeAnnotation: StringTypeAnnotation,
+		},
+	},
+	StringTypeAnnotation,
+)
diff --git a/runtime/tests/checker/string_test.go b/runtime/tests/checker/string_test.go
index 5d94c0c077..828cb73276 100644
--- a/runtime/tests/checker/string_test.go
+++ b/runtime/tests/checker/string_test.go
@@ -451,3 +451,86 @@ func TestCheckStringSplitTypeMissingArgumentLabelSeparator(t *testing.T) {
 
 	assert.IsType(t, &sema.MissingArgumentLabelError{}, errs[0])
 }
+
+func TestCheckStringReplaceAll(t *testing.T) {
+
+	t.Parallel()
+
+	checker, err := ParseAndCheck(t, `
+		let s = "👪.❤️.Abc".replaceAll(of: "❤️", with: "|")
+	`)
+	require.NoError(t, err)
+
+	assert.Equal(t,
+		sema.StringType,
+		RequireGlobalValue(t, checker.Elaboration, "s"),
+	)
+}
+
+func TestCheckStringReplaceAllTypeMismatchOf(t *testing.T) {
+
+	t.Parallel()
+
+	_, err := ParseAndCheck(t, `
+		let s = "Abc:1".replaceAll(of: 1234, with: "/")
+	`)
+
+	errs := RequireCheckerErrors(t, err, 1)
+
+	assert.IsType(t, &sema.TypeMismatchError{}, errs[0])
+}
+
+func TestCheckStringReplaceAllTypeMismatchWith(t *testing.T) {
+
+	t.Parallel()
+
+	_, err := ParseAndCheck(t, `
+		let s = "Abc:1".replaceAll(of: "1", with: true)
+	`)
+
+	errs := RequireCheckerErrors(t, err, 1)
+
+	assert.IsType(t, &sema.TypeMismatchError{}, errs[0])
+}
+
+func TestCheckStringReplaceAllTypeMismatchCharacters(t *testing.T) {
+
+	t.Parallel()
+
+	_, err := ParseAndCheck(t, `
+		let a: Character = "x"
+		let b: Character = "y"
+		let s = "Abc:1".replaceAll(of: a, with: b)
+	`)
+
+	errs := RequireCheckerErrors(t, err, 2)
+
+	assert.IsType(t, &sema.TypeMismatchError{}, errs[0])
+	assert.IsType(t, &sema.TypeMismatchError{}, errs[1])
+}
+
+func TestCheckStringReplaceAllTypeMissingArgumentLabelOf(t *testing.T) {
+
+	t.Parallel()
+
+	_, err := ParseAndCheck(t, `
+	let s = "👪Abc".replaceAll("/", with: "abc")
+	`)
+
+	errs := RequireCheckerErrors(t, err, 1)
+
+	assert.IsType(t, &sema.MissingArgumentLabelError{}, errs[0])
+}
+
+func TestCheckStringReplaceAllTypeMissingArgumentLabelWith(t *testing.T) {
+
+	t.Parallel()
+
+	_, err := ParseAndCheck(t, `
+	let s = "👪Abc".replaceAll(of: "/", "abc")
+	`)
+
+	errs := RequireCheckerErrors(t, err, 1)
+
+	assert.IsType(t, &sema.MissingArgumentLabelError{}, errs[0])
+}
diff --git a/runtime/tests/interpreter/string_test.go b/runtime/tests/interpreter/string_test.go
index 37bba83186..176927311c 100644
--- a/runtime/tests/interpreter/string_test.go
+++ b/runtime/tests/interpreter/string_test.go
@@ -596,3 +596,50 @@ func TestInterpretStringSplit(t *testing.T) {
 		),
 	)
 }
+
+func TestInterpretStringReplaceAll(t *testing.T) {
+
+	t.Parallel()
+
+	inter := parseCheckAndInterpret(t, `
+		fun replaceAll(): String {
+			return "👪////❤️".replaceAll(of: "////", with: "||")
+		}
+		fun replaceAllSpaceWithDoubleSpace(): String {
+			return "👪 ❤️ Abc6 ;123".replaceAll(of: " ", with: "  ")
+		}
+		fun replaceAllWithUnicodeEquivalence(): String {
+			return "Caf\u{65}\u{301}ABc".replaceAll(of: "\u{e9}", with: "X")
+		}
+		fun testEmptyString(): String {
+			return "".replaceAll(of: "//", with: "abc")
+		}
+		fun testEmptyOf(): String {
+			return "abc".replaceAll(of: "", with: "1")
+		}
+		fun testNoMatch(): String {
+			return "pqrS;asdf".replaceAll(of: ";;", with: "does_not_matter")
+		}
+	`)
+
+	testCase := func(t *testing.T, funcName string, expected *interpreter.StringValue) {
+		t.Run(funcName, func(t *testing.T) {
+			result, err := inter.Invoke(funcName)
+			require.NoError(t, err)
+
+			RequireValuesEqual(
+				t,
+				inter,
+				expected,
+				result,
+			)
+		})
+	}
+
+	testCase(t, "replaceAll", interpreter.NewUnmeteredStringValue("👪||❤️"))
+	testCase(t, "replaceAllSpaceWithDoubleSpace", interpreter.NewUnmeteredStringValue("👪  ❤️  Abc6  ;123"))
+	testCase(t, "replaceAllWithUnicodeEquivalence", interpreter.NewUnmeteredStringValue("CafXABc"))
+	testCase(t, "testEmptyString", interpreter.NewUnmeteredStringValue(""))
+	testCase(t, "testEmptyOf", interpreter.NewUnmeteredStringValue("1a1b1c1"))
+	testCase(t, "testNoMatch", interpreter.NewUnmeteredStringValue("pqrS;asdf"))
+}