List.ReplaceMatchingItems Function in Power Query
The List.ReplaceMatchingItems function in Power Query (M language) is used to replace values in a list based on matching pairs from a replacement list. This is particularly useful when we want to substitute specific values in a list with new values.
Syntax
List.ReplaceMatchingItems(
    list as list, 
    replacements as list, 
    optional equationCriteria as any
) as list  The function has the following parameters:
- list: The original list we want to modify.
 - replacements: A list of lists, where each inner list is a pair 
[oldValue, newValue]that specifies what to replace and with what. - equationCriteria: It is an optional parameter; it allows custom comparison.
 
How It Works:
 For each element in the original list: 
 • If the element matches oldValue in any replacement pair, it's replaced with the corresponding newValue. 
 • If no match is found, the element is kept unchanged. 
Example: Replace matching items in a list.
Power Query M
let
    originalList = {"Apple", "Banana", "Orange", "Apple"},
    replacements = {{"Apple", "Mango"}, {"Orange", "Grapes"}},
    updatedList = List.ReplaceMatchingItems(originalList, replacements)
in
    updatedList   The output of the above code is:
{"Mango", "Banana", "Grapes", "Mango"}    Notes:  • The comparison is case-sensitive. 
 • Only the first match is replaced — if multiple replacements for the same value exist, only the first one is applied. 
 • Replacement is done based on exact match (not substring or pattern match).