Let the total volume of the liquid in the vessel be \( V \).
Initially, the liquid consists of 3 parts water and 5 parts syrup, so the total amount of water is \( \frac{3}{8}V \) and the total amount of syrup is \( \frac{5}{8}V \).
Let \( x \) be the fraction of the mixture to be drawn off and replaced with water. After this, the amount of water in the mixture becomes:
\[
\text{Water} = \frac{3}{8}V - x \times \frac{3}{8}V + x \times V = \frac{3}{8}V(1 - x) + xV
\]
This should be half of the total mixture, i.e., \( \frac{1}{2}V \). Thus, we set up the equation:
\[
\frac{3}{8}V(1 - x) + xV = \frac{1}{2}V
\]
Simplifying:
\[
\frac{3}{8}(1 - x) + x = \frac{1}{2}
\]
Multiply through by 8:
\[
3(1 - x) + 8x = 4
\]
Expanding:
\[
3 - 3x + 8x = 4
\]
Simplifying:
\[
3 + 5x = 4
\]
Solving for \( x \):
\[
5x = 1 \quad \Rightarrow \quad x = \frac{1}{5}
\]
Thus, the fraction of the mixture that should be drawn off and replaced with water is \( \frac{1}{5} \).