Can two replacement effects both apply to the same event and in what order are they applied?

Replacement effects modify an event before it happens. When two or more replacement effects would all apply to the same event, the game must resolve them one at a time rather than all at once. This is governed by CR 616.1, which lays out the priority order for choosing which replacement effect applies first.

The general rule (CR 616.1) is that the affected player — or, if the event affects an object rather than a player, that object's controller — chooses which applicable replacement effect to apply first. After the first replacement effect modifies the event, the game checks again whether any remaining replacement effects still apply to the modified event, and the player chooses again among those that still apply (CR 616.1h).

There are exceptions that override player choice. CR 616.1a–616.1g establish a layered priority: for example, effects that come from the affected object itself are applied before effects from other sources, and 'instead' effects from the same category are applied in a specific tiebreaker order. Self-replacement effects (the object's own abilities) go first.

Concrete example: A creature with totem armor (an enchantment that says 'if enchanted creature would be destroyed, instead remove all damage from it and destroy this Aura') is dealt lethal damage while its controller also has a Soul Link (gain life equal to damage dealt) on it. Both effects could interact with damage. Suppose the creature would be destroyed by state-based actions: the totem armor replacement effect (from the enchantment, on the object) applies first per CR 616.1a, preventing destruction and removing damage; the controller picks the order for any remaining applicable effects.

In short: yes, multiple replacement effects stack on one event, applied sequentially in an order largely chosen by the affected player, subject to the priority rules in CR 616.1.