Scunthorpe have accepted defeat in their bid to keep Joe Murphy and David Mirfin after deciding not to offer the in-demand pair new deals.
Five fellow out-of-contracts players have also been released after manager Alan Knill announced his retained list.
Goalkeeper Murphy, who has been with the club for five years, and defender Mirfin are expected to pen deals with other clubs following the Iron's relegation to League One and will leave Glanford Park over the coming weeks.
Knill told Scunthorpe's official website: "With Joe and David, they more or less came out and said they wouldn't be here next year.
"We had meetings with both players and they effectively said they were looking to be somewhere else.
"They're good players and you don't want to lose them. Unfortunately, the ball was in their court."
Surplus to requirements
The quintet who have been deemed surplus to requirements by Knill, as he shapes his squad for the first time since taking charge, are left-back Rory Coleman, midfielders Johnathan Williams, Ian Morris and Josh Wright as well as striker Paris Cowan-Hall.
Goalkeeper Sam Slocombe was also out of contract but Scunthorpe have opted to take up a one-year option included in his agreement while youngsters Jake Turner, Ashley Palmer, Aron Wint and Jordan Thewlis have all been offered professional terms.
Meanwhile, under contract centre-back Rob Jones, who spent the latter part of the season on loan at Sheffield Wednesday, is in talks regarding a permanent move to the League One club.