Billy Bodin and Nathan Thompson have been offered new deals at Swindon but the Robins are to release five players.
The League Two champions announced last week that Abdul Said was leaving, and Phil Smith, Mark Scott, Callum Kennedy and Lander Gabilondo will also be moving on after they were not offered new contracts.
Meanwhile, John Bostock, Lee Holmes, Jay McEveley and Ronan Murray have all returned to their parent clubs following loan spells at the County Ground.
A statement on the club's official website said: "Swindon Town would like to place on record their gratitude to all of those players who have worked so hard during their time at the club. We wish them the very best in their future careers."