You easily can rename a folder, link, or file within OneDrive or SharePoint.
On older versions of SharePoint, when you rename an item that you've previously sent someone a link to in your document library, you'll need to send them a new link to allow them access to the file.
With SharePoint Online, if you send someone a sharing link, those people will still be able to access the same file using that link, even after you rename it. But if you previously sent them a direct link, they will not be able to access the file anymore.
Rename a document, folder, or link in a document library
Open the document library and hover over the file you want to rename.
Click the ellipses (...) to the right of the item name, and then click Rename.
In the Rename dialog, type the new name into the field, and then click Save.
Renaming a file with an Office web app
When you open up a document, presentation, or workbook in an Office web app, you can rename it simply by clicking on the name of the file in the title bar, even while others are using the file.
Renaming a file in desktop or mobile applications
When you're working with a file in the Office applications for desktop or mobile, you can also rename and move files from within the application itself, even while others are using the document.