In order to solve the leakage of swivel, the FPSO SPM swivel installation technology was studied with the example of "BohaiYouyi" FPSO SPM swivel replacement project in BZ28-1 oilfield. By analyzing and comparing the structural size and operating parameters of the two swivels, the interchangeability between the new swivel and the leakage swivel is determined and the procedure of the swivel lifting is optimized. Through the expansion of the inner pipe, innovative design of transportation frame and offshore hoisting, issues for swivel replacement and installation are successfully solved such as high precision connection, high demand for transportation, high hoisting risks and others. At the same time, the construction process of swivel installation and key processes such as hoisting, dismantling, installation and commissioning are introduced. It is indicated through application that the offshore replacement and installation of swivel can be realized with FPSO SPM swivel installation technology, which can be used for reference by manufacturer or construction company.