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function replace_text_wps($text){
        $replace = array(
                // 'WORD TO REPLACE' => 'REPLACE WORD WITH THIS'
                'wordpress' => '<a href="#">wordpress</a>',
                'excerpt' => '<a href="#">excerpt</a>',
                'function' => '<a href="#">function</a>'
        );
        $text = str_replace(array_keys($replace), $replace, $text);
        return $text;
}
add_filter('the_content', 'replace_text_wps');
add_filter('the_excerpt', 'replace_text_wps');