diff --git a/doc/source/whatsnew/v2.0.0.rst b/doc/source/whatsnew/v2.0.0.rst
index 0880b8e2cac12..46fbb41a86d2f 100644
--- a/doc/source/whatsnew/v2.0.0.rst
+++ b/doc/source/whatsnew/v2.0.0.rst
@@ -187,6 +187,7 @@ Removal of prior version deprecations/changes
 - Removed :attr:`Rolling.win_type` returning ``"freq"`` (:issue:`38963`)
 - Removed :attr:`Rolling.is_datetimelike` (:issue:`38963`)
 - Removed deprecated :meth:`Timedelta.delta`, :meth:`Timedelta.is_populated`, and :attr:`Timedelta.freq` (:issue:`46430`, :issue:`46476`)
+- Removed deprecated :meth:`Categorical.replace`, use :meth:`Series.replace` instead (:issue:`44929`)
 - Removed the ``numeric_only`` keyword from :meth:`Categorical.min` and :meth:`Categorical.max` in favor of ``skipna`` (:issue:`48821`)
 - Removed :func:`is_extension_type` in favor of :func:`is_extension_array_dtype` (:issue:`29457`)
 - Removed :meth:`Index.get_value` (:issue:`33907`)
diff --git a/pandas/conftest.py b/pandas/conftest.py
index 074b6068a4518..d9f481d843b37 100644
--- a/pandas/conftest.py
+++ b/pandas/conftest.py
@@ -154,7 +154,6 @@ def pytest_collection_modifyitems(items, config) -> None:
         ("DataFrame.append", "The frame.append method is deprecated"),
         ("Series.append", "The series.append method is deprecated"),
         ("dtypes.common.is_categorical", "is_categorical is deprecated"),
-        ("Categorical.replace", "Categorical.replace is deprecated"),
         ("MultiIndex._is_lexsorted", "MultiIndex.is_lexsorted is deprecated"),
         # Docstring divides by zero to show behavior difference
         ("missing.mask_zero_div_zero", "divide by zero encountered"),
diff --git a/pandas/core/arrays/categorical.py b/pandas/core/arrays/categorical.py
index 48371b7f14b28..adeb53feaf5b6 100644
--- a/pandas/core/arrays/categorical.py
+++ b/pandas/core/arrays/categorical.py
@@ -2561,53 +2561,6 @@ def isin(self, values) -> npt.NDArray[np.bool_]:
         code_values = code_values[null_mask | (code_values >= 0)]
         return algorithms.isin(self.codes, code_values)
 
-    @overload
-    def replace(
-        self, to_replace, value, *, inplace: Literal[False] = ...
-    ) -> Categorical:
-        ...
-
-    @overload
-    def replace(self, to_replace, value, *, inplace: Literal[True]) -> None:
-        ...
-
-    @deprecate_nonkeyword_arguments(version=None, allowed_args=["self", "value"])
-    def replace(self, to_replace, value, inplace: bool = False) -> Categorical | None:
-        """
-        Replaces all instances of one value with another
-
-        Parameters
-        ----------
-        to_replace: object
-            The value to be replaced
-
-        value: object
-            The value to replace it with
-
-        inplace: bool
-            Whether the operation is done in-place
-
-        Returns
-        -------
-        None if inplace is True, otherwise the new Categorical after replacement
-
-
-        Examples
-        --------
-        >>> s = pd.Categorical([1, 2, 1, 3])
-        >>> s.replace(1, 3)
-        [3, 2, 3, 3]
-        Categories (2, int64): [2, 3]
-        """
-        # GH#44929 deprecation
-        warn(
-            "Categorical.replace is deprecated and will be removed in a future "
-            "version. Use Series.replace directly instead.",
-            FutureWarning,
-            stacklevel=find_stack_level(),
-        )
-        return self._replace(to_replace=to_replace, value=value, inplace=inplace)
-
     def _replace(self, *, to_replace, value, inplace: bool = False):
         inplace = validate_bool_kwarg(inplace, "inplace")
         cat = self if inplace else self.copy()
diff --git a/pandas/tests/arrays/categorical/test_replace.py b/pandas/tests/arrays/categorical/test_replace.py
index a50b1eddd99be..a3ba420c84a17 100644
--- a/pandas/tests/arrays/categorical/test_replace.py
+++ b/pandas/tests/arrays/categorical/test_replace.py
@@ -55,9 +55,7 @@ def test_replace_categorical(to_replace, value, result, expected_error_msg):
     # GH#26988
     cat = Categorical(["a", "b"])
     expected = Categorical(result)
-    with tm.assert_produces_warning(FutureWarning, match="Series.replace"):
-        # GH#44929 replace->_replace
-        result = cat.replace(to_replace, value)
+    result = pd.Series(cat).replace(to_replace, value)._values
 
     tm.assert_categorical_equal(result, expected)
     if to_replace == "b":  # the "c" test is supposed to be unchanged
@@ -65,8 +63,5 @@ def test_replace_categorical(to_replace, value, result, expected_error_msg):
             # ensure non-inplace call does not affect original
             tm.assert_categorical_equal(cat, expected)
 
-    with tm.assert_produces_warning(FutureWarning, match="Series.replace"):
-        # GH#44929 replace->_replace
-        cat.replace(to_replace, value, inplace=True)
-
+    pd.Series(cat).replace(to_replace, value, inplace=True)
     tm.assert_categorical_equal(cat, expected)