diff --git a/packages/replace/src/index.js b/packages/replace/src/index.js
index d0a6ee82b..482ee9ddd 100755
--- a/packages/replace/src/index.js
+++ b/packages/replace/src/index.js
@@ -51,6 +51,7 @@ export default function replace(options = {}) {
     name: 'replace',
 
     transform(code, id) {
+      if (!keys.length) return null;
       if (!filter(id)) return null;
 
       const magicString = new MagicString(code);
diff --git a/packages/replace/test/fixtures/form/replace-nothing/_config.js b/packages/replace/test/fixtures/form/replace-nothing/_config.js
new file mode 100755
index 000000000..194ff3203
--- /dev/null
+++ b/packages/replace/test/fixtures/form/replace-nothing/_config.js
@@ -0,0 +1,4 @@
+module.exports = {
+  description: 'replaces nothing',
+  options: { }
+};
diff --git a/packages/replace/test/fixtures/form/replace-nothing/input.js b/packages/replace/test/fixtures/form/replace-nothing/input.js
new file mode 100755
index 000000000..ea6b2fff5
--- /dev/null
+++ b/packages/replace/test/fixtures/form/replace-nothing/input.js
@@ -0,0 +1 @@
+console.log('as-it'); // eslint-disable-line
diff --git a/packages/replace/test/fixtures/form/replace-nothing/output.js b/packages/replace/test/fixtures/form/replace-nothing/output.js
new file mode 100755
index 000000000..670fff8fd
--- /dev/null
+++ b/packages/replace/test/fixtures/form/replace-nothing/output.js
@@ -0,0 +1 @@
+console.log('as-it');
diff --git a/packages/replace/test/snapshots/form.js.md b/packages/replace/test/snapshots/form.js.md
index fa556b1fe..64b51bc83 100644
--- a/packages/replace/test/snapshots/form.js.md
+++ b/packages/replace/test/snapshots/form.js.md
@@ -52,3 +52,9 @@ Generated by [AVA](https://ava.li).
     `const one = 1; // eslint-disable-line␊
     ␊
     console.log(one);`
+
+## replace-nothing: replaces nothing
+
+> Snapshot 1
+
+    'console.log(\'as-it\'); // eslint-disable-line'
diff --git a/packages/replace/test/snapshots/form.js.snap b/packages/replace/test/snapshots/form.js.snap
index 1e9b56468..1a9f47a38 100644
Binary files a/packages/replace/test/snapshots/form.js.snap and b/packages/replace/test/snapshots/form.js.snap differ