Can it be replaced? Probably, if you're handy with a soldering iron and know the model number of the IC that needs to be replaced. There's probably a lot more wrong than just the burnt IC though. My guess is that individual traces on the mobo are fried, and that's almost impossible fix (for an end user), as well as a few other components in the area of the burnt IC.
A new motherboard is your only option here, I'm afraid.