Exeter have bid farewell to long-serving defenders Pat Baldwin and Scot Bennett as well as striker Graham Cummins.
Centre-back Baldwin, who missed most of the season through injury, has been with the Grecians for three years while former captain Bennett has made almost 150 appearances since graduating through the youth system.
The pair have not been offered new deals along with Irishman Cummins.
But the Grecians have offered contracts to Christian Ribeiro, Matt Oakley and Jimmy Keohane while winger Lee Holmes, out of contract this summer, has returned to Preston as their season is yet to finish.
The departure of experienced striker Clinton Morrison was announced on Tuesday while Liam Sercombe agreed to join Oxford.