Background: Autogenous transplantation of impacted third molars in place of nonsalvageable first or second molars can prove to be a good option. Hence, the present study evaluated the replacement of maxillary or mandibular nonrestorable molars with immediate autotransplantation of impacted third molar. Materials and Methods: Forty-two impacted third molars having complete root formation were extracted and autotransplanted into the extraction socket of nonrestorable first or second molars on 42 participants in the age range of 22–50 years. Follow-up period for the study was of 1 year at regular intervals. Participants were analyzed for pain, tooth mobility, ankylosis, and root resorption at follow-up intervals. Data obtained were analyzed using SPSS software. Results: Out of the 42 participants, 9 participants required extraction of autotransplanted tooth due to resorption and Grade 2 mobility. One tooth showed ankylosis. Success rate of the autotransplantation was 78%. Conclusion: It was concluded that immediate autotransplantation is a successful and more economical tooth replacement option provided that proper case selection and procedure should be followed.