Here are some options, depending on what "it" refers to:
For inanimate objects:
* The thing
* That
* This
* This object
* This item
* This matter
* This case
For concepts or situations:
* This
* That
* The matter
* The situation
* The circumstance
For actions:
* The act
* The deed
* The occurrence
* The event
For a previously mentioned noun:
* It (this is the most straightforward option)
* The aforementioned noun
* The previously mentioned noun
For something vague or unspecified:
* Something
* Anything
* Whatever
The best synonym will depend on the specific context and the desired tone.