Elephants usually have 26 teeth: the incisors, known as the tusks, 12 deciduous premolars, and 12 molars.

Elephants are Polyphyodonts!

A polyphyodont is an animal whose teeth are continuously replaced. No more than two of the six teeth are in wear at the same time in each side of a jaw (the only exception is in young elephants which may use three.) Teeth grow from the back of the jaw and follow a linear pathway of movement forwards as the preceding tooth is progressively worn down in the front. Each tooth drops out as it reaches the front of the elephant's jaw.

On average, their chewing teeth are replaced 6 times during their lifetime - their first set of teeth fall out when they are 2 to 3 years old. Subsequent sets fall out at ages 4 to 6, 9 to 15, and 18 to 28. Their sixth (and last) set of teeth grow in during their early 40s.

The tusks of an elephant are modified incisors in the upper jaw. They replace the elephant's milk teeth at about 6–12 months of age. One unique feature about them is that they grow continuously, at a rate of approximately 7 inches a year! Essentially enlarged and elongated incisors, their tusks are part of their set of 26 teeth.

As an elephant gets older one of the most limiting factors in its ability to live a longer life is the teeth. Once the last molar the elephant has worn out it is incapable of chewing its food properly and either death from starvation or malnutrition will occur.

More Info: en.wikipedia.org