diff --git a/doc/man/elementsd.1 b/doc/man/elementsd.1
index 6d2a81a5bb..4d80e3d55e 100644
--- a/doc/man/elementsd.1
+++ b/doc/man/elementsd.1
@@ -634,9 +634,6 @@ Relay and mine data carrier transactions (default: 1)
 Maximum size of data in data carrier transactions we relay and mine
 (default: 83)
 .HP
-\fB\-mempoolreplacement\fR
-.IP
-Enable transaction replacement in the memory pool (default: 1)
 .HP
 \fB\-minrelaytxfee=\fR<amt>
 .IP
diff --git a/src/init.cpp b/src/init.cpp
index 7ea9648010..ddf2192fcc 100644
--- a/src/init.cpp
+++ b/src/init.cpp
@@ -530,7 +530,6 @@ void SetupServerArgs()
     gArgs.AddArg("-bytespersigop", strprintf("Equivalent bytes per sigop in transactions for relay and mining (default: %u)", DEFAULT_BYTES_PER_SIGOP), false, OptionsCategory::NODE_RELAY);
     gArgs.AddArg("-datacarrier", strprintf("Relay and mine data carrier transactions (default: %u)", DEFAULT_ACCEPT_DATACARRIER), false, OptionsCategory::NODE_RELAY);
     gArgs.AddArg("-datacarriersize", strprintf("Maximum size of data in data carrier transactions we relay and mine (default: %u)", MAX_OP_RETURN_RELAY), false, OptionsCategory::NODE_RELAY);
-    gArgs.AddArg("-mempoolreplacement", strprintf("Enable transaction replacement in the memory pool (default: %u)", DEFAULT_ENABLE_REPLACEMENT), false, OptionsCategory::NODE_RELAY);
     gArgs.AddArg("-minrelaytxfee=<amt>", strprintf("Fees (in %s/kB) smaller than this are considered zero fee for relaying, mining and transaction creation (default: %s)",
         CURRENCY_UNIT, FormatMoney(DEFAULT_MIN_RELAY_TX_FEE)), false, OptionsCategory::NODE_RELAY);
     gArgs.AddArg("-whitelistforcerelay", strprintf("Force relay of transactions from whitelisted peers even if the transactions were already in the mempool or violate local relay policy (default: %d)", DEFAULT_WHITELISTFORCERELAY), false, OptionsCategory::NODE_RELAY);
@@ -1219,23 +1218,6 @@ bool AppInitParameterInteraction()
 
     nMaxTipAge = gArgs.GetArg("-maxtipage", DEFAULT_MAX_TIP_AGE);
 
-    fEnableReplacement = gArgs.GetBoolArg("-mempoolreplacement", DEFAULT_ENABLE_REPLACEMENT);
-    if ((!fEnableReplacement) && gArgs.IsArgSet("-mempoolreplacement")) {
-        // Minimal effort at forwards compatibility
-        std::string strReplacementModeList = gArgs.GetArg("-mempoolreplacement", "");  // default is impossible
-        std::vector<std::string> vstrReplacementModes;
-        boost::split(vstrReplacementModes, strReplacementModeList, boost::is_any_of(",+"));
-        fEnableReplacement = (std::find(vstrReplacementModes.begin(), vstrReplacementModes.end(), "fee") != vstrReplacementModes.end());
-        if (fEnableReplacement) {
-            fReplacementHonourOptOut = (std::find(vstrReplacementModes.begin(), vstrReplacementModes.end(), "-optin") == vstrReplacementModes.end());
-            if (!fReplacementHonourOptOut) {
-                nLocalServices = ServiceFlags(nLocalServices | NODE_REPLACE_BY_FEE);
-            }
-        } else {
-            fReplacementHonourOptOut = true;
-        }
-    }
-
     try {
         const std::string default_asset_name = gArgs.GetArg("-defaultpeggedassetname", "bitcoin");
         InitGlobalAssetDir(gArgs.GetArgs("-assetdir"), default_asset_name);
diff --git a/src/validation.cpp b/src/validation.cpp
index 956fba907a..005c56f61b 100644
--- a/src/validation.cpp
+++ b/src/validation.cpp
@@ -114,8 +114,6 @@ bool fCheckpointsEnabled = DEFAULT_CHECKPOINTS_ENABLED;
 size_t nCoinCacheUsage = 5000 * 300;
 uint64_t nPruneTarget = 0;
 int64_t nMaxTipAge = DEFAULT_MAX_TIP_AGE;
-bool fEnableReplacement = DEFAULT_ENABLE_REPLACEMENT;
-bool fReplacementHonourOptOut = DEFAULT_REPLACEMENT_HONOUR_OPTOUT;
 
 uint256 hashAssumeValid;
 arith_uint256 nMinimumChainWork;
@@ -503,20 +501,13 @@ static bool AcceptToMemoryPoolWorker(const CChainParams& chainparams, CTxMemPool
                 // unconfirmed ancestors anyway; doing otherwise is hopelessly
                 // insecure.
                 bool fReplacementOptOut = true;
-                if (fEnableReplacement)
+                for (const CTxIn &_txin : ptxConflicting->vin)
                 {
-                  if (fReplacementHonourOptOut) {
-                    for (const CTxIn &_txin : ptxConflicting->vin)
+                    if (_txin.nSequence <= MAX_BIP125_RBF_SEQUENCE)
                     {
-                        if (_txin.nSequence <= MAX_BIP125_RBF_SEQUENCE)
-                        {
-                            fReplacementOptOut = false;
-                            break;
-                        }
-                    }
-                  } else {
                         fReplacementOptOut = false;
-                  }
+                        break;
+                    }
                 }
                 if (fReplacementOptOut) {
                     return state.Invalid(ValidationInvalidReason::TX_MEMPOOL_POLICY, false, REJECT_DUPLICATE, "txn-mempool-conflict");
diff --git a/src/validation.h b/src/validation.h
index d9f2003e7f..e60ea90492 100644
--- a/src/validation.h
+++ b/src/validation.h
@@ -120,9 +120,6 @@ static const char* const DEFAULT_BLOCKFILTERINDEX = "0";
 static const unsigned int DEFAULT_BANSCORE_THRESHOLD = 100;
 /** Default for -persistmempool */
 static const bool DEFAULT_PERSIST_MEMPOOL = true;
-/** Default for -mempoolreplacement */
-static const bool DEFAULT_ENABLE_REPLACEMENT = true;
-static const bool DEFAULT_REPLACEMENT_HONOUR_OPTOUT = true;
 /** Default for using fee filter */
 static const bool DEFAULT_FEEFILTER = true;
 
@@ -172,8 +169,6 @@ extern size_t nCoinCacheUsage;
 extern CFeeRate minRelayTxFee;
 /** If the tip is older than this (in seconds), the node is considered to be in initial block download. */
 extern int64_t nMaxTipAge;
-extern bool fEnableReplacement;
-extern bool fReplacementHonourOptOut;
 
 /** Block hash whose ancestors we will assume to have valid scripts without checking them. */
 extern uint256 hashAssumeValid;
diff --git a/test/functional/feature_rbf.py b/test/functional/feature_rbf.py
index 44f113f87d..1b2c7826c0 100755
--- a/test/functional/feature_rbf.py
+++ b/test/functional/feature_rbf.py
@@ -72,7 +72,7 @@ def make_utxo(node, amount, confirmed=True, scriptPubKey=CScript([1])):
 
 class ReplaceByFeeTest(BitcoinTestFramework):
     def set_test_params(self):
-        self.num_nodes = 2
+        self.num_nodes = 1
         self.extra_args = [
             [
                 "-maxorphantx=1000",
@@ -82,9 +82,6 @@ class ReplaceByFeeTest(BitcoinTestFramework):
                 "-limitdescendantcount=200",
                 "-limitdescendantsize=101",
             ],
-            [
-                "-mempoolreplacement=0",
-            ],
         ]
 
     def skip_test_if_missing_module(self):
@@ -157,16 +154,12 @@ class ReplaceByFeeTest(BitcoinTestFramework):
 
         # This will raise an exception due to insufficient fee
         assert_raises_rpc_error(-26, "insufficient fee", self.nodes[0].sendrawtransaction, tx1b_hex, 0)
-        # This will raise an exception due to transaction replacement being disabled
-        assert_raises_rpc_error(-26, "txn-mempool-conflict", self.nodes[1].sendrawtransaction, tx1b_hex, 0)
 
         # Extra 0.1 BTC fee
         tx1b = CTransaction()
         tx1b.vin = [CTxIn(tx0_outpoint, nSequence=0)]
         tx1b.vout = [CTxOut(int(0.9 * COIN), CScript([b'b' * 35])), feeout, feeout]
         tx1b_hex = txToHex(tx1b)
-        # Replacement still disabled even with "enough fee"
-        assert_raises_rpc_error(-26, "txn-mempool-conflict", self.nodes[1].sendrawtransaction, tx1b_hex, 0)
         # Works when enabled
         tx1b_txid = self.nodes[0].sendrawtransaction(tx1b_hex, 0)
 
@@ -177,11 +170,6 @@ class ReplaceByFeeTest(BitcoinTestFramework):
 
         assert_equal(tx1b_hex, self.nodes[0].getrawtransaction(tx1b_txid))
 
-        # Second node is running mempoolreplacement=0, will not replace originally-seen txn
-        mempool = self.nodes[1].getrawmempool()
-        assert tx1a_txid in mempool
-        assert tx1b_txid not in mempool
-
     def test_doublespend_chain(self):
         """Doublespend of a long chain"""