diff --git a/cms/djangoapps/contentstore/transcript_storage_handlers.py b/cms/djangoapps/contentstore/transcript_storage_handlers.py
index 0c8dc37faa0e..20cc5e30ee81 100644
--- a/cms/djangoapps/contentstore/transcript_storage_handlers.py
+++ b/cms/djangoapps/contentstore/transcript_storage_handlers.py
@@ -184,6 +184,9 @@ def upload_transcript(request):
     new_language_code = request.POST['new_language_code']
     transcript_file = request.FILES['file']
     try:
+        # Determine whether this upload replaces an existing transcript
+        # (return 200) or creates a new one (return 201).
+        is_replace = new_language_code in get_available_transcript_languages(video_id=edx_video_id)
         # Convert SRT transcript into an SJSON format
         # and upload it to S3.
         sjson_subs = Transcript.convert(
@@ -201,7 +204,7 @@ def upload_transcript(request):
             },
             file_data=ContentFile(sjson_subs),
         )
-        response = JsonResponse(status=201)
+        response = JsonResponse(status=200 if is_replace else 201)
     except (TranscriptsGenerationException, UnicodeDecodeError):
         LOGGER.error("Unable to update transcript on edX video %s for language %s", edx_video_id, new_language_code)
         response = JsonResponse(
diff --git a/cms/djangoapps/contentstore/views/tests/test_transcript_settings.py b/cms/djangoapps/contentstore/views/tests/test_transcript_settings.py
index 915c065ea731..da18536a5fc6 100644
--- a/cms/djangoapps/contentstore/views/tests/test_transcript_settings.py
+++ b/cms/djangoapps/contentstore/views/tests/test_transcript_settings.py
@@ -339,6 +339,31 @@ def test_transcript_upload_handler(self, mock_create_or_update_video_transcript)
             file_data=ANY,
         )
 
+    @patch('cms.djangoapps.contentstore.transcript_storage_handlers.create_or_update_video_transcript')
+    @patch(
+        'cms.djangoapps.contentstore.transcript_storage_handlers.get_available_transcript_languages',
+        Mock(return_value=['en']),
+    )
+    def test_transcript_upload_handler_returns_200_on_replace(self, mock_create_or_update_video_transcript):
+        """
+        Verify that uploading a transcript for a language that already has a
+        transcript returns 200 (replace) instead of 201 (create).
+        """
+        transcript_file_stream = StringIO('0\n00:00:00,010 --> 00:00:00,100\nHello, edX greets you.\n\n')
+        response = self.client.post(
+            self.view_url,
+            {
+                'edx_video_id': '123',
+                'language_code': 'en',
+                'new_language_code': 'en',
+                'file': transcript_file_stream,
+            },
+            format='multipart'
+        )
+
+        self.assertEqual(response.status_code, 200)  # noqa: PT009
+        mock_create_or_update_video_transcript.assert_called_once()
+
     @ddt.data(
         (
             {