The present invention relates in general to the field of rod-and-reel fishing, and more specifically, to a cartridge for holding new fishing line while at the same time providing a convenient storage mechanism for retrieving, holding and disposing of old, worn-out fishing line. One aspect of the replacement fishing line cartridge includes an outer spooling portion and an inner spooling portion. The inner spooling portion may be detachably snapped, slid or locked into the outer spooling portion. The outer spooling portion may be configured to hold new fishing line. The inner spooling portion may be configured to hold old fishing line, wherein the inner spooling portion fits inside the outer spooling portion to prevent the old fishing line from detangling. In this manner, the replacement fishing line cartridge may be used to conveniently dispose of and/or recycle old fishing line in a compact manner. The purpose of the invention is to provide a replacement fishing line cartridge and method of replacing fishing line that is convenient, disposable and environmentally friendly.