As the number of cores and associativity of the last level cache (LLC) on a Chip Multi-processor increases, the role of replacement policies becomes more vital. Though, pure least recently used (LRU) policy has some issues it has been generally believed that some versions of LRU policy performs better than the other policies. Therefore, a lot of work has been proposed to improve the performance of LRU-based policies. However, it has been shown that the true LRU imposes additional complexity and area overheads when implemented on high associative LLCs. Most of the LRU based works are more motivated towards the performance improvement than the reduction of area and hardware overhead of true LRU scheme. In this paper we proposed an LRU based cache replacement policy especially for the LLC to improve the performance of LRU as well as to reduce the area and hardware cost of pure LRU by more than a half. We use a combination of random and LRU replacement policy for each cache set. Instead of using LRU policy for the entire set we use it only for some number of ways within the set. Experiments conducted on a full-system simulator shows 36% and 11% improvements over miss rate and CPI respectively. © Springer-Verlag Berlin Heidelberg 2013.