Both players were omitted from The Eagles' pre-season tour of Spain, and boss Steve Kember has now confirmed that neither has a future at the club.
Kember revealed that the move was mainly designed to reduce costs at the Division One outfit as both players are on big-money deals.
"They have both been transfer listed at the same time," declared Kember.
"We are looking to cut costs at the club and they are two of our higher wage earners.
"It's no disrespect to both their abilities. We need to bring the wage bill down."
The duo have both endured disappointing spells at the South London club since their respective arrivals.
Akinbiyi managed just three goals in 28 appearances after Trevor Francis splashed out £2.2 million to take him from Leicester City, while Granville managed just over 50 appearances following his £500,000 switch from Manchester City in December 2001.
Meanwhile, Palace have revealed that midfielder-cum-defender Hayden Mullins is to undergo a hernia operation and will miss the start of the season.
The 24-year-old, who was voted the club's Player of the Year last term, will return from Palace's pre-season base in Spain to have the surgery.
