diff --git a/cpp/benchmarks/CMakeLists.txt b/cpp/benchmarks/CMakeLists.txt
index 7fd84b508ac..43ca6de11b4 100644
--- a/cpp/benchmarks/CMakeLists.txt
+++ b/cpp/benchmarks/CMakeLists.txt
@@ -177,8 +177,9 @@ ConfigureBench(BINARYOP_BENCH binaryop/binaryop_benchmark.cu)
 ConfigureBench(TEXT_BENCH
   text/normalize_benchmark.cpp
   text/normalize_spaces_benchmark.cpp
-  text/tokenize_benchmark.cpp
-  text/subword_benchmark.cpp)
+  text/replace_benchmark.cpp
+  text/subword_benchmark.cpp
+  text/tokenize_benchmark.cpp)
 
 ###################################################################################################
 # - strings benchmark -------------------------------------------------------------------
diff --git a/cpp/benchmarks/text/replace_benchmark.cpp b/cpp/benchmarks/text/replace_benchmark.cpp
new file mode 100644
index 00000000000..f5428aee225
--- /dev/null
+++ b/cpp/benchmarks/text/replace_benchmark.cpp
@@ -0,0 +1,85 @@
+/*
+ * Copyright (c) 2021, NVIDIA CORPORATION.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *     http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+#include <benchmark/benchmark.h>
+#include <benchmarks/fixture/benchmark_fixture.hpp>
+#include <benchmarks/string/string_bench_args.hpp>
+#include <benchmarks/synchronization/synchronization.hpp>
+
+#include <cudf/strings/strings_column_view.hpp>
+#include <cudf_test/base_fixture.hpp>
+#include <cudf_test/column_wrapper.hpp>
+
+#include <nvtext/replace.hpp>
+
+class TextReplace : public cudf::benchmark {
+};
+
+static void BM_replace(benchmark::State& state)
+{
+  auto const n_rows   = static_cast<cudf::size_type>(state.range(0));
+  auto const n_length = static_cast<cudf::size_type>(state.range(1));
+
+  std::vector<std::string> words{" ",        "one  ",    "two ",       "three ",     "four ",
+                                 "five ",    "six  ",    "sevén  ",    "eight ",     "nine ",
+                                 "ten   ",   "eleven ",  "twelve ",    "thirteen  ", "fourteen ",
+                                 "fifteen ", "sixteen ", "seventeen ", "eighteen ",  "nineteen "};
+
+  std::default_random_engine generator;
+  std::uniform_int_distribution<int> tokens_dist(0, words.size() - 1);
+  std::string row;  // build a row of random tokens
+  while (static_cast<int>(row.size()) < n_length) row += words[tokens_dist(generator)];
+
+  std::uniform_int_distribution<int> position_dist(0, 16);
+
+  auto elements = cudf::detail::make_counting_transform_iterator(
+    0, [&](auto idx) { return row.c_str() + position_dist(generator); });
+  cudf::test::strings_column_wrapper input(elements, elements + n_rows);
+  cudf::strings_column_view view(input);
+
+  cudf::test::strings_column_wrapper targets({"one", "two", "sevén", "zero"});
+  cudf::test::strings_column_wrapper replacements({"1", "2", "7", "0"});
+
+  for (auto _ : state) {
+    cuda_event_timer raii(state, true, 0);
+    nvtext::replace_tokens(
+      view, cudf::strings_column_view(targets), cudf::strings_column_view(replacements));
+  }
+
+  state.SetBytesProcessed(state.iterations() * view.chars_size());
+}
+
+static void generate_bench_args(benchmark::internal::Benchmark* b)
+{
+  int const min_rows          = 1 << 12;
+  int const max_rows          = 1 << 24;
+  int const row_multiplier    = 8;
+  int const min_row_length    = 1 << 5;
+  int const max_row_length    = 1 << 13;
+  int const length_multiplier = 4;
+  generate_string_bench_args(
+    b, min_rows, max_rows, row_multiplier, min_row_length, max_row_length, length_multiplier);
+}
+
+#define NVTEXT_BENCHMARK_DEFINE(name)           \
+  BENCHMARK_DEFINE_F(TextReplace, name)         \
+  (::benchmark::State & st) { BM_replace(st); } \
+  BENCHMARK_REGISTER_F(TextReplace, name)       \
+    ->Apply(generate_bench_args)                \
+    ->UseManualTime()                           \
+    ->Unit(benchmark::kMillisecond);
+
+NVTEXT_BENCHMARK_DEFINE(replace)