Midfielder Kari Arnason has been told he can leave Plymouth, and he could be followed out by striker Rory Patterson.
Arnason, 28, has made 75 appearances and scored three goals since signing as a free agent in July 2009. He arrived on an initial one-year deal but his contract was later extended until the summer of 2012.
"We have given him permission to go on a free transfer," Argyle acting chairman Peter Ridsdale told The Herald.
"He's looking for a club in Iceland to the best of my knowledge. I have told him he can do pre-season training elsewhere."
Patterson joined Plymouth on a two-year deal from Glentoran in Northern Ireland last summer. The 26-year-old struggled to adapt to League One football, scoring only four times in 35 appearances.
Ridsdale added: "We have given him permission to find a club if he can. If he doesn't do that by July 4 then I assume he will turn up for the start of pre-season training, but I don't expect to see Arnason come back."