Joint replacement surgeries are one of the most common and highly prevalent surgical procedures as of date. Blood transfusion comes with its own set of complications and hence the search for a complementary solution to minimize the quantum of blood transfusion. Tranexamic acid has been shown to be very useful in reducing blood loss and incidence of blood transfusion in a variety of surgeries. A randomized prospective double blinded placebo controlled study was conducted on 40 American Society of Anaesthesiologists (ASA) physical status I and II patients, between the age group of 18–60 years of either sex undergoing either Total Hip replacement or Hemiarthroplasty. The patients were separated into two groups, Group I and Group II, consisting of 20 patients each and were randomized in such a way that each group had 10 Hemiarthroplasties and 10 Total Hip Replacements. Two doses of 15mg/kg of Tranexamic acid in 10ml syringe was given intravenously to the Test group (Group I) at spaced intervals whereas the Control group received Placebo intravenously – 10ml of normal saline in 10ml syringe (Group II) at spaced intervals. Peri–operative blood loss and blood transfusion requirements were measured. Statistical Analysis was done using the independent T Test. Tranexamic acid significantly reduced the peri–operative blood loss and post–operative transfusion requirements. Its use was not associated with any complications or side effects. Hence tranexamic acid can be used effectively in replacement surgeries.