In this paper, we discuss the cache replacement policy in a multimedia transcoding proxy. Unlike the cache replacement for conventional web objects, to replace some elements with others in the cache of a transcoding proxy, we should further consider the inter-relationship among the cached items. To maintain the inter-relationship and to perform cache replacement, we propose in this paper the RESP framework (standing for Replacement with Shortest Path). The RESP framework contains two primary components, i.e., procedure MASP (standing for Minimum Aggregate Cost with Shortest Path) and algorithm EBR (standing for ExchangeBased Replacement). Procedure MASP maintains the interrelationship using a shortest path table, whereas algorithm EBR performs cache replacement according to an exchanging strategy. The experimental results show that the RESP framework can approximate the optimal cache replacement with much lower execution time for processing user queries.