You can replace an existing document with an updated version of that file in the Document Library so that you can link to a newer version of a file.
When you publish the updated version, existing links are automatically refreshed to point to the updated version.
Upload a revised file
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Go to Library, Document Library, and search for your document.
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In the Name column, select the name of the document to open up the version list for the document.
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Select Create a new version.
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Enter a new Version Name, such as, "V2 Walk 5k Participant Guide."
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(Optional) Enter a Description.
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Select Choose File to locate the file on your computer or a shared network resource.
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Select Open.
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Select Upload.
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To use the newly uploaded version, select Make Active
in the Actions column.
The new version is now Active. Links to this document automatically use the updated, active file.