Defender Kyle Haynes and striker Ethan Moore have been released from their contracts at Cheltenham Town.
Moore, 18, signed his first professional deal in May but has yet to make an appearance for the senior team.
Haynes, 19, becomes a free agent after three years at the League Two club where he played 20 games.
He went out on loan to Salisbury City last year and has spent the last three months at Hednesford Town, where he is now expected to sign a permanent deal.
"I don't want to stand in Kyle's way when it comes to first-team football," manager Mark Yates told the club website.
"He is a great lad and he has been really good around the club but he needs to play football.
"I had lengthy discussions with Kyle and we both agreed this is the right move for both the club and for Kyle. I wish him all the best for his career."