Former Bolton captain Zat Knight and midfielder Chris Eagles will be leaving the club at the end of the season.
Knight and Eagles will leave when their contracts expire this summer, the club announced on its website on Monday.
Defender Knight, who has two England caps, was named as captain at the start of the 2013-14 season but passed the armband to Jay Spearing when he dropped out of the starting line-up.
The 34-year-old departs having made 191 appearances for the club, scoring four goals. He joined Bolton from Aston Villa in July 2009, having previously played for Fulham.
Eagles has made 18 appearances for the Wanderers this season, scoring 19 goals in a total of 106 games since signing for the club in July 2011.
The 28-year-old former Manchester United player had spells at Burnley, Watford, Sheffield Wednesday and Dutch side NEC Nijmegen before joining Bolton.
Also on the way out are injury-blighted defender Tyrone Mears and goalkeeper Jay Lynch, who failed to make a senior appearance for the club.
Bolton said talks are continuing with Stuart Holden, Andre Moritz and Arran Lee-Barrett, while academy youngster Glenn Matthews has signed a one-year professional contract.