You'll need to be a little more careful with your string manipulation.  You can't use REPLACE() for this, because that will replace multiple occurrences, corrupting your data if one element in the comma-separated list is a substring of another element.  The INSERT() string function is better for this, not to be confused with the INSERT statement used for inserting into a table.
DELIMITER $$
DROP PROCEDURE IF EXISTS `insert_csv` $$
CREATE PROCEDURE `insert_csv`(_list MEDIUMTEXT)
BEGIN
DECLARE _next TEXT DEFAULT NULL;
DECLARE _nextlen INT DEFAULT NULL;
DECLARE _value TEXT DEFAULT NULL;
iterator:
LOOP
  -- exit the loop if the list seems empty or was null;
  -- this extra caution is necessary to avoid an endless loop in the proc.
  IF CHAR_LENGTH(TRIM(_list)) = 0 OR _list IS NULL THEN
    LEAVE iterator;
  END IF;
 
  -- capture the next value from the list
  SET _next = SUBSTRING_INDEX(_list,',',1);
  -- save the length of the captured value; we will need to remove this
  -- many characters + 1 from the beginning of the string 
  -- before the next iteration
  SET _nextlen = CHAR_LENGTH(_next);
  -- trim the value of leading and trailing spaces, in case of sloppy CSV strings
  SET _value = TRIM(_next);
  -- insert the extracted value into the target table
  INSERT INTO t1 (c1) VALUES (_value);
  -- rewrite the original string using the `INSERT()` string function,
  -- args are original string, start position, how many characters to remove, 
  -- and what to "insert" in their place (in this case, we "insert"
  -- an empty string, which removes _nextlen + 1 characters)
  SET _list = INSERT(_list,1,_nextlen + 1,'');
END LOOP;
END $$
DELIMITER ;
Next, a table for testing:
CREATE TABLE `t1` (
  `id` int(11) NOT NULL AUTO_INCREMENT,
  `c1` varchar(64) NOT NULL,
  PRIMARY KEY (`id`)
) ENGINE=InnoDB DEFAULT CHARSET=utf8;
The new table is empty.
mysql> SELECT * FROM t1;
Empty set (0.00 sec)
Call the procedure.
mysql> CALL insert_csv('foo,bar,buzz,fizz');
Query OK, 1 row affected (0.00 sec)
Note the "1 row affected" does not mean what you would expect.  It refers to the last insert we did.  Since we insert one row at a time, if the procedure inserts at least one row, you'll always get a row count of 1; if the procedure inserts nothing, you'll get 0 rows affected.
Did it work?
mysql> SELECT * FROM t1;
+----+------+
| id | c1   |
+----+------+
|  1 | foo  |
|  2 | bar  |
|  3 | buzz |
|  4 | fizz |
+----+------+
4 rows in set (0.00 sec)