The present application provides a method and system for optimal caching of content in the Information Centric Networks (ICN) and a cache replacement based on a content metric value. The method and system comprises requesting for a plurality of content by a user to a nearest local or edge ICN cache router; delivering by the local or edge ICN cache router the requested plurality of content to the user if it is available in its cache; else forwarding the request for the plurality of content to any of intermediate ICN cache router for finding source of the requested plurality of content; downloading the plurality of content in its downstream path; and storing the downloaded plurality of content based on a content metric value derived by a content metric system (CMS) based on a plurality of network parameters for the requested plurality of content.