System administrators can manage picklists to keep up with your changing business needs. Editing picklist options can be a simple task, however, there are considerations when doing so. Below are options you have to edit your existing picklist values. If you'd like to learn about picklists and see how to create a custom picklist, click here.
Add New Picklist Values
If you need to add new picklist values to an existing picklist, follow these steps.
1. Click the gear icon and select Setup.
2. Select the Object Manager tab.
3. Use the Quick Find box to search for the object to edit, in this example, Contact.
4. Select Contact.
5. Select Fields & Relationships.
6. Use the Quick Find search to find the picklist field, in this example, we will use Hobby.
7. Scroll down to Values and click the New button.
8. Add the values, each on its own line. Save.
9. You can select Reorder to move values up and down or alphabetically, as well as set a Default value. Save.
Did you add a value and it is not showing on the picklist? Check out this article for next steps.
Edit Existing Picklist Values
You can rename an existing picklist value by using the Edit option.
Note: Changing the API Name for picklist values can potentially break integrations that use the field you are modifying and is not recommended. It is also important to note that if you modify an existing value and that value is used in a report or list view filter, then the report or list view may not work as expected. An error message will likely display when accessing the report or list since the previous value does not exist. Be sure to update relevant filter criteria when making value edits.
1. From the Object in Setup, select Fields & Relationships. In this example, we are using the Contact Object.
3. Select Fields & Relationships.
4. Use the Quick Find search to find the picklist field, in this example, we will use Hobby.
5. Scroll down to Values and next the to value you want to change, select Edit.
6. Change the Label only to the new value. Save.
Replace Existing Picklist Values
You can replace existing picklist values with another picklist value. This will map all of the existing data containing the old value to the new value. This is useful when combining values or if you want to keep report and list view filters intact. When saved, this change is a global action and replaces the picklist value for all existing records, including records in the recycle bin. Also, this will update the Last Modified By date, time, and user for all records where the value was replaced.
1. Go to the picklist in Setup.
2. Be sure the replacement value has already been created on the picklist values.
3. Copy the API Name of the value you wish to replace.
4. Select the Replace button.
5. Paste the API Name in Exact Value Changing From box.
6. Select Value Changing to in the dropdown. Click Replace.
Deactivate Existing Picklist Values
If you no longer want a picklist value to be selected by users, but want historical records to show the value, Deactivation is the best option. By selecting Deactivation, the value no longer appears in the picklist but will be displayed on records and in reports and list views that contain the value. Note: Deactivated values will show in reports and list views, but you will not be able to use them in filters since they are no longer valid picklist values. Deactivated values can be reactivated.
1. Go to the picklist in Setup.
2. Next to the value, select Deactivate.
2. A pop up box will ask you to confirm. Click Yes. 
Delete Existing Picklist Values
You can choose to Delete values from a picklist. You will be given the option to replace the value with an existing picklist value, or leave it blank. Leaving the value blank will remove the value on existing records. To keep the value on existing records, select Deactivate instead of Delete. A picklist must have one active value, therefore, if there is only one value, there is no option to delete it.
1. Go to the picklist in Setup.
2. Click Del next to the Value Name.
3. A pop up box will ask you to confirm. Click Yes.
4. Select whether you want to replace the value with an existing one or whether to leave the value blank. Save.
Now that you know the options available, you can manage picklists as your firm's needs change.
