Parameter-efficient fine-tuning (PEFT) must balance effectiveness and efficiency: low-rank methods can be costly, while global representation edits often underfit token-level contexts. We propose **Token-Aware Representation Editing (TARE)**, a PEFT method that performs fine-grained, token-specific edits with a small additional inference overhead and minimal tuning.After each FFN block in a transformer-like model, we adopt a lightweight selector that scores a small pool of hidden representation editors for each token, activates only the top-k editors, and mixes their element-wise scaling/bias updates. This design achieves superior performance while maintaining computational efficiency, yielding a more favorable Pareto frontier compared to state-of-the-art (SOTA) methods.Across LLaMA-3-8B (eight knowledge reasoning and seven mathematical reasoning tasks) and RoBERTa-base/large (GLUE), TARE outperforms SOTAs (LoRA, DoRA, MiLoRA, LoReFT, and RED), achieving 86.7% (knowledge reasoning), 76.7% (mathematical reasoning), and 88.3% (GLUE) while tuning only 0.0392% of parameters using about 20 GiB peak GPU memory during training.An implementation is available at: <https://github.com/PatriciaPulec/tare>.