diff --git a/pandas/core/frame.py b/pandas/core/frame.py
index 5603730974c7e..9337b9a23f9fe 100644
--- a/pandas/core/frame.py
+++ b/pandas/core/frame.py
@@ -3427,8 +3427,8 @@ def replace(self, to_replace, value=None, method='pad', axis=0,
 
         Parameters
         ----------
-        value : scalar or dict, default None
-            Value to use to fill holes (e.g. 0), alternately a dict of values
+        value : scalar or dict or Series, default None
+            Value to use to fill holes (e.g. 0), alternately a dict/Series of values
             specifying which value to use for each column (columns not in the
             dict will not be filled)
         method : {'backfill', 'bfill', 'pad', 'ffill', None}, default 'pad'
@@ -3468,8 +3468,8 @@ def replace(self, to_replace, value=None, method='pad', axis=0,
                 return self
 
             new_data = self._data
-            if isinstance(to_replace, dict):
-                if isinstance(value, dict):  # {'A' : NA} -> {'A' : 0}
+            if isinstance(to_replace, (dict,Series)):
+                if isinstance(value, (dict,Series)):  # {'A' : NA} -> {'A' : 0}
                     new_data = self._data
                     for c, src in to_replace.iteritems():
                         if c in value and c in self:
@@ -3501,7 +3501,7 @@ def replace(self, to_replace, value=None, method='pad', axis=0,
             else:
 
                 # dest iterable dict-like
-                if isinstance(value, dict):  # NA -> {'A' : 0, 'B' : -1}
+                if isinstance(value, (dict,Series)):  # NA -> {'A' : 0, 'B' : -1}
 
                     new_data = self._data
                     for k, v in value.iteritems():
diff --git a/pandas/tests/test_frame.py b/pandas/tests/test_frame.py
index f143d0fcacc2f..079f6002964a2 100644
--- a/pandas/tests/test_frame.py
+++ b/pandas/tests/test_frame.py
@@ -5786,6 +5786,23 @@ def test_replace_input_formats(self):
             expected.replace(to_rep[i], -1, inplace=True)
         assert_frame_equal(result, expected)
 
+        # scalar to series/dict
+        df = DataFrame({'zero': {'a': 0.0, 'b': 1}, 'one': {'a': 2.0, 'b': 0}})
+        result = df.replace(0, {'zero': 0.5, 'one': 1.0})
+        expected = DataFrame({'zero': {'a': 0.5, 'b': 1}, 'one': {'a': 2.0, 'b': 1.0}})
+        assert_frame_equal(result, expected)
+        result = df.replace(0, df.mean())
+        assert_frame_equal(result, expected)
+
+        # series to series/dict
+        df = DataFrame({'zero': {'a': 0.0, 'b': 1}, 'one': {'a': 2.0, 'b': 0}})
+        s = Series({'zero': 0.0, 'one': 2.0})
+        result = df.replace(s, {'zero': 0.5, 'one': 1.0})
+        expected = DataFrame({'zero': {'a': 0.5, 'b': 1}, 'one': {'a': 1.0, 'b': 0.0}})
+        assert_frame_equal(result, expected)
+        result = df.replace(s, df.mean())
+        assert_frame_equal(result, expected)
+
     def test_replace_axis(self):
         self.tsframe['A'][:5] = nan
         self.tsframe['A'][-5:] = nan