Tolkien literally did just that:
In the first edition of The Hobbit, Gollum willingly bets his magic ring on the outcome of the riddle-game, and he and Bilbo part amicably. In the second edition edits, to reflect the new concept of the ring and its corrupting abilities, Tolkien made Gollum more aggressive towards Bilbo and distraught at losing the ring. The encounter ends with Gollum's curse, "Thief! Thief, Thief, Baggins! We hates it, we hates it, we hates it forever!" This presages Gollum's portrayal in The Lord of the Rings.
Tolkien sent this revised version of the chapter "Riddles in the Dark" to Unwin as an example of the kinds of changes needed to bring the book into conformity with The Lord of the Rings, but he heard nothing back for years. When he was sent galley proofs of a new edition, Tolkien was surprised to find the sample text had been incorporated. In The Lord of the Rings, the original version of the riddle game is explained as a "lie" made up by Bilbo under the harmful influence of the Ring, whereas the revised version contains the "true" account. The revised text became the second edition, published in 1951 in both the UK and the US.
Stephen King also rewrote large sections of the first Dark Tower book:
King revised The Gunslinger in 2003. In his introduction to the new edition, King stated that he felt the original version was "dry" and difficult for new readers to access. He also made the storytelling more linear and the book's plot more consistent with the series' ending. Other changes were made in order to resolve continuity errors introduced by later volumes. The added material was over 9000 words (35 pages) in length.
TV Tropes calls these Orwellian Retcons, and has a number of other examples from literature.