The Collaborative International Dictionary of English v.0.48:

Displace \Dis*place"\, v. t. [imp. & p. p. Displaced; p. pr. &
   vb. n. Displacing.] [Pref. dis- + place: cf. F.
   d['e]placer.]
   1. To change the place of; to remove from the usual or proper
      place; to put out of place; to place in another situation;
      as, the books in the library are all displaced.
      [1913 Webster]

   2. To crowd out; to take the place of.
      [1913 Webster]

            Holland displaced Portugal as the mistress of those
            seas.                                 --London
                                                  Times.
      [1913 Webster]

   3. To remove from a state, office, dignity, or employment; to
      discharge; to depose; as, to displace an officer of the
      revenue.
      [1913 Webster]

   4. To dislodge; to drive away; to banish. [Obs.]
      [1913 Webster]

            You have displaced the mirth.         --Shak.

   Syn: To disarrange; derange; dismiss; discard.
        [1913 Webster]

WordNet (r) 3.0 (2006):

displace
    v 1: cause to move, usually with force or pressure; "the
         refugees were displaced by the war"
    2: take the place of or have precedence over; "live broadcast of
       the presidential debate preempts the regular news hour";
       "discussion of the emergency situation will preempt the
       lecture by the professor" [syn: preempt, displace]
    3: terminate the employment of; discharge from an office or
       position; "The boss fired his secretary today"; "The company
       terminated 25% of its workers" [syn: displace, fire,
       give notice, can, dismiss, give the axe, send away,
       sack, force out, give the sack, terminate] [ant:
       employ, engage, hire]
    4: cause to move or shift into a new position or place, both in
       a concrete and in an abstract sense; "Move those boxes into
       the corner, please"; "I'm moving my money to another bank";
       "The director moved more responsibilities onto his new
       assistant" [syn: move, displace]

Moby Thesaurus II by Grady Ward, 1.0:

137 Moby Thesaurus words for "displace":
   act for, attend, banish, boot, bounce, break, bump, bust, can,
   carry away, carry off, cart away, cashier, change places with,
   come after, crowd out, cut out, deconsecrate, defrock, degrade,
   delocalize, demote, deplume, deport, depose, deprive, dethrone,
   disarrange, disarticulate, disbar, discharge, discrown, disemploy,
   disenthrone, disjoint, dislocate, dislodge, dismiss, disorder,
   displume, disturb, double for, drum out, eject, emanate, ensue,
   evict, excommunicate, exile, expatriate, expel, fill in for, fire,
   follow after, follow up, furlough, ghost, ghostwrite, give the ax,
   give the gate, go after, issue, kick, kick out, kick upstairs,
   lay aside, lay off, let go, let out, liquidate, luxate,
   make redundant, manhandle, misplace, move, oust, overtake,
   overthrow, pension, pension off, pinch-hit, purge, put aside,
   read out of, release, relegate, relieve, relocate, remove,
   remove from office, replace, represent, result, retire, sack, send,
   separate forcibly, set aside, shift, shunt, side, spell, spell off,
   stand in for, strip, strip of office, strip of rank, subrogate,
   substitute for, succeed, superannuate, supersede, supervene,
   supplant, surplus, suspend, swap places with, take away, throw out,
   track, trail, transfer, transport, turn off, turn out, unchurch,
   uncrown, understudy for, unfrock, unhinge, unjoint, unmake,
   unsaddle, unseat, unsettle, unthrone, usurp