With careful planning and a strategic approach, it's possible to install a pond liner in an existing pond. Start by assessing the existing pond, including its size, shape, and any potential existing issues like leaks or erosion. You will need to partially drain the pond to expose the bottom and sides. This allows you to inspect the area for any sharp objects or debris that could damage the new liner. You'll need to address any issues before you install a new liner.
Drain the pond completely before carefully removing the existing liner. It's important to keep the pond's base completely dry for the new liner, since water under the liner can eventually create bubbles that float the liner. Take time to correct any issues you had identified, especially factors like erosion that affect the pond's structural integrity. Once the pond's walls and base are prepared, place the underlayment if you're using one, followed by the liner. Anchor both layers securely, ensuring they conform to the shape and contours of the pond.