Changing Field Name in ArcGIS Desktop

You can now rename a field using core ArcGIS Desktop GP tool - Alter Field (Data Management).

This tool provides the ability to rename fields or rename field aliases for any geodatabase table or feature class.

I have not installed 10.2.1 on a virtual machine yet (was released just a day ago), but my guess is that by feature class here Esri means both geodatabase feature classes and shapefiles, but I am not 100% on that.

This tool is available starting with 10.2.1.

In short you cannot change a field name in a shapefile. What you need to do is create a new field of the same type but with your new name then copy the contents of the old field into it, then delete the old field.

If you are willing to use other software to complement ArcGIS, you can use QGIS with the Table Manager Plugin (you can install it via Plugins > Install and Manage Plugins).

In QGIS:

• Add your shapefile with Layer > Add vector layer...;
• Select your layer in the "table of contents";
• Open the plugin via Vector > Table Manager;
• Select the desired field and press rename and choose the new name;
• Don't forget to save, and then close.

Note: You can also reorder all your fields. Nice and easy, with no need for data duplication or temporary fields.