Pacemen Nathan Bracken and Stuart Clark are among five players to lose their Cricket Australia contracts for the 2010/11 season.
Batsman David Hussey is another player not to have his deal renewed, along with Brad Hodge and wicketkeeper Graham Manou.
"It is disappointing for Stuart Clark and Nathan Bracken who have not received contracts for 2010/11," said selection panel chairman Andrew Hilditch.
"Both Stuart and Nathan have fantastic records for Australia and not renewing their contracts was a very hard decision."
The newcomers are fast bowlers Ryan Harris and Clint McKay, wicketkeeper-batsman Tim Paine, all-rounder Steven Smith and batsman Adam Voges, it was announced on Wednesday.
The quartet all began the 2009/10 season without CA deals, but were awarded them by the end of the period after building up sufficient upgrade points during that time.
Veteran paceman Brett Lee has retained his contract, despite suffering a recent injury and struggling to find his form of late. He is expected to partake only in limited-overs and Twenty20 games.
Another player to be kept on the contract list is fast bowler Shaun Tait, even though he is thought of as a virtual Twenty20 specialist.
"Shaun Tait has had his contract renewed as we see him as an important member of the ICC World Twenty20 squad and a real chance to force his way back into the Australian 50-over side," said Hilditch.
The list was compiled based on the form of the players over the last year and the probability of their Australian selection over the next 12 months.
All contracted players will be given a minimum retainer, in addition to match fees, tour fees and prize money for any success on-field.
Contracted players: Doug Bollinger, Michael Clarke, Callum Ferguson, Brad Haddin, Ryan Harris, Nathan Hauritz, Ben Hilfenhaus, James Hopes, Phillip Hughes, Michael Hussey, Mitchell Johnson, Simon Katich, Brett Lee, Shaun Marsh, Andrew McDonald, Clint McKay, Marcus North, Tim Paine, Ricky Ponting, Peter Siddle, Steven Smith, Shaun Tait, Adam Voges, Shane Watson, Cameron White.