Manager Steve Tilson has kept just three members of his squad after the club's relegation from the Football League.
Tilson has offered new deals to Luke Howell, Danny Hone and Andy Hutchinson.
Mustapha Carayol, Ali Fuseini and Gavin McCallum have been put on the transfer list while Joe Anyon, Josh O'Keefe and Adam Watts have been made available on free transfers.
The rest of the squad have been told they have no future with Lincoln.
"We need to change things around, hence what we have done," said Tilson.
"We have got to be sensible in and around a certain wage cap and sign players that are hungry and want to come and play."