Not only does OSX comes with one of the best icons around, but Apple made it incredibly easy to change default icons compared to other operating systems.
PS: file in this guide stands for files, folders, applications and volumes.
Using Finder's Get Info

What you need:
- The target file
- Another file with the new icon: the source file
- Select both files, right-click then choose "Get Info"
- In "Get Info" pane of the source file, select the icon at the upper left corner.
- Copy it using Cmd()+C or choose Edit > Copy in the top navigation bar
- In "Get Info" pane of the target file, select the icon at the upper left corner.
- Paste the icon using Cmd()+V or choose Edit > Paste in the top navigation bar
- Done!
To restore the original icon:
- In the "Get Info" pane of the target file, select the icon at the upper left corner.
- Hit delete(⌫) on your keyboard
Using Finder's Show Package Contents (Apps only)

What you need:
- The target application
- The icon in .icns format
- Select the target application, right-click then choose "Show Package Contents"
- In Contents > Resources look for the icon file with an .icns extension. Use spotlight for more efficiency.
- Back up the icon file by copying it elsewhere
- Rename the new icon to the name of the .icns file you just backed up.
- Drag-and-drop the new icon to the Resources folder, replacing the original .icns file.
- Done!
To restore the original icon:
- Repeat the same steps as above to replace your custom icon with the original back-up file.
Using Third Party Applications

Beside the native solutions detailed above, there are several third party applications that allow you to change icons in an easier and classier way. If you fancy yourself a premium, full-featured solution, give Candybar ($29) or IconBox ($24.99) a try. Otherwise, you can stick to the free LiteIcon, which is certainly more than enough for most of us, and even comes with a crappy icon for practice.
What you need:
- The target file
- The new icon in .icns (alternatively .png, albeit not recommended)
- Third party application
Steps (LiteIcon)
- Drag-and-drop the new icon (.icns) onto the target file in LiteIcon
- Click Relaunch finder to see changes
- Done!
To restore the original icon:
- Right click the target file
- Select Restore.
Your questions and suggestions are welcome in the comments section!