An information recording medium, and a recording/reproducing apparatus and a recording/reproducing method for the recording medium. Original data is sequentially updated by replacing an original recording block with one or more replacement recording blocks. A replacement recording block includes at least one of an original address field indicating a location of the original recording block or a previous address field indicating a location of an immediately previous recording block. Replacement information is effectively recovered in a system where a replacement for logical overwriting (LOW) occurs in either a spare area and a user data area by reference to the address fields in each replacement recording block.