uwrwilkeThis does not replace a "Phono Preamp" which itself is a different kind of preampfification specific to turntables.
If the turntable you own has phono preamp built in, then yes it would work with the THX ONE.
uwrwilkeSchiit is about the only one I know that sells phono modules for their headphone amps. Personally I have no interest in those all-in-one units and prefer dedicated gear for the purpose.