diff --git a/packages/replace/src/index.js b/packages/replace/src/index.js
index acfb91990..cdbe6419a 100755
--- a/packages/replace/src/index.js
+++ b/packages/replace/src/index.js
@@ -74,9 +74,10 @@ export default function replace(options = {}) {
   if (objectGuards) expandTypeofReplacements(replacements);
   const functionValues = mapToFunctions(replacements);
   const keys = Object.keys(functionValues).sort(longest).map(escape);
-  const lookahead = preventAssignment ? '(?!\\s*(=[^=]|:[^:]))' : '';
+  const lookbehind = preventAssignment ? '(?<!\\b(?:const|let|var)\\s*)' : '';
+  const lookahead = preventAssignment ? '(?!\\s*=[^=])' : '';
   const pattern = new RegExp(
-    `${delimiters[0]}(${keys.join('|')})${delimiters[1]}${lookahead}`,
+    `${lookbehind}${delimiters[0]}(${keys.join('|')})${delimiters[1]}${lookahead}`,
     'g'
   );
 
diff --git a/packages/replace/test/fixtures/form/ternary-operator/_config.js b/packages/replace/test/fixtures/form/ternary-operator/_config.js
new file mode 100755
index 000000000..1dd1ac890
--- /dev/null
+++ b/packages/replace/test/fixtures/form/ternary-operator/_config.js
@@ -0,0 +1,9 @@
+module.exports = {
+  description: "replaces value inside ternary operators",
+  options: {
+    condition: 'first',
+    exprIfTrue: 'second',
+    exprIfFalse: 'third',
+    preventAssignment: true
+  }
+};
diff --git a/packages/replace/test/fixtures/form/ternary-operator/input.js b/packages/replace/test/fixtures/form/ternary-operator/input.js
new file mode 100644
index 000000000..e3a14e873
--- /dev/null
+++ b/packages/replace/test/fixtures/form/ternary-operator/input.js
@@ -0,0 +1,3 @@
+/* eslint-disable */
+condition ? exprIfTrue : exprIfFalse;
+console.log(condition, exprIfTrue, exprIfFalse);
\ No newline at end of file
diff --git a/packages/replace/test/fixtures/form/ternary-operator/output.js b/packages/replace/test/fixtures/form/ternary-operator/output.js
new file mode 100644
index 000000000..81dd1102b
--- /dev/null
+++ b/packages/replace/test/fixtures/form/ternary-operator/output.js
@@ -0,0 +1,3 @@
+/* eslint-disable */
+first ? second : third;
+console.log(first, second, third);
\ No newline at end of file
diff --git a/packages/replace/test/snapshots/form.js.md b/packages/replace/test/snapshots/form.js.md
index cc254b516..04ba72de9 100644
--- a/packages/replace/test/snapshots/form.js.md
+++ b/packages/replace/test/snapshots/form.js.md
@@ -87,6 +87,14 @@ Generated by [AVA](https://avajs.dev).
       replaced.doSomething()␊
     \`);`
 
+## ternary-operator: replaces value inside ternary operators
+
+> Snapshot 1
+
+    `/* eslint-disable */␊
+    first ? second : third;␊
+    console.log(first, second, third);`
+
 ## typescript-declare: doesn't replace lvalue in typescript declare
 
 > Snapshot 1
diff --git a/packages/replace/test/snapshots/form.js.snap b/packages/replace/test/snapshots/form.js.snap
index e907e7442..242f1c08c 100644
Binary files a/packages/replace/test/snapshots/form.js.snap and b/packages/replace/test/snapshots/form.js.snap differ