Studying on high-frequence words’ evolution is one of the important subjects in the field of the historical study of Chinese vocabulary. 矢 and 箭were a group of high-frequence words which were used substitutively in the history of their evolution. Having reviewed their chronological substitution, the paper holds that矢and 箭 were both used in general before Qin dynasty, and that矢was on the whole, used much more often. From Qin dynasty to the end of East Han dynasty, 矢and 箭often appeared substitutively in the same position of the context, thus presented an interchangeable state. By the end of Han dynasty, the tendency showed that箭was taking the places of矢. In the Chinese version of Buddhist Scripture of East Han dynasty and Three States period, 箭 had completed the substitution of矢. The paper also reveals the great value of early Chinese version of Buddhist Scripture in the study of the history of Chinese vocabulary.