Little has been published on the outcomes of polyethylene liner exchanges for wear or osteolysis. We assessed 24 patients from our clinic who had an isolated polyethylene liner exchange for wear or osteolysis with retention of the acetabular shell and femoral stem. At a mean 56-month follow-up time, 6 hips (25%) had dislocated. Of these, 2 underwent repeat surgery for recurrent dislocation; 1 had 3 dislocations; 1 had 2 dislocations; and 2 had single dislocations. Seventeen of the remaining patients answered our questionnaire: 13 recovered faster from the polyethylene liner exchange than from the primary arthroplasty; 4 believed that their hips were not as stable, 4 believed the hip did not function as well; and 1 underwent revision for cup loosening. We conclude that polyethylene liner exchanges, with or without femoral head exchange for wear or osteolysis, are associated with a high risk of dislocation and possible decrease in function.