A precast concrete frame with replaceable energy-dissipating connectors (REDC-PCF) is proposed in this paper. The replaceable energy dissipating connectors (REDCs) are installed in precast concrete connections, where plastic hinges may form. During minor earthquakes, these connections utilize REDCs to provide the flexural stiffness; during medium or large earthquakes, the REDCs act as energy dissipating devices, thereby exploiting their excellent post-yield behaviors to dissipate seismic energy. The REDCs are designed such that they yield before structural elements to protect precast concrete elements from severe damage. In this study, three quasi-static tests were performed on a two-story REDC-PCF. The seismic performances of the test specimen were investigated in terms of deformation capacity, damage distribution, and failure mode. The results indicated that, after multiple replacements of REDCs, the REDC-PCF still behaved well with stable hysteretic behaviors. A numerical analysis model, including detailed modeling of beam-column connections and column-foundations is constructed using Opensees. Good agreement between the simulation results and the test results is observed.