Wes Morgan, Christian Fuchs and Eldin Jakupovic have signed new one-year contracts with Leicester, but Andy King will leave the club at the end of the season.
Club captain Morgan and left-back Fuchs were key members of the Foxes' 2016 Premier League-winning side, while Jakupovic has largely served as a back-up goalkeeper since arriving in 2017.
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However, King - another key member of Leicester's title-winning side - will leave the King Power Stadium after 16 years.
The midfielder joined Leicester as a 16-year-old and has gone on to make 378 appearances for the Foxes, placing him 10th on the club's all-time list.
He remains the only player to have won the League One, Championship and Premier League titles with the same club.
King will leave Leicester after honouring his loan at Championship side Huddersfield Town, which is due to run to the end of the season.
Leicester have confirmed the club will host an event to mark King's service "when it is safe and possible to do so".
"Few players have committed themselves to the club's cause over such a sustained period, served through such a spectrum of experiences, or contributed to such change, as Andy has in the last 16 years," read a club statement.
"That, coupled with the success he helped the club to achieve on the pitch, marks him out among the greats to have pulled on the shirt.
"He leaves with the thanks of everyone at the club for an immeasurable contribution."
Leicester chairman Aiyawatt Srivaddhanaprabha also thanked King for his service to the club over the last decade.
"I'm so grateful to Andy. He is the only player still here that was with the club when King Power took over 10 years ago," said Srivaddhanaprabha.
"He's been through everything with us and is an amazing guy. He's been a massive part of what the club has achieved in that time and earned the respect of so many people.
"I could talk about the important goals Andy has scored or the medals he has won, but his contribution goes far beyond that.
"The young players he's helped, the change he's embraced, the ways he's supported our communities, the culture he's helped to build - few players have contributed so much over such a long period of time.
"Like so many of our fans, I'm sure, I look forward to a time when I can thank him in person. For now, we wish him well with the next stage of his career, in which he has so much more to give."
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