Stephen Elliott is being released by Hearts, along with fellow striker Gary Glen, despite the Irishman starting their Scottish Cup final victory.
Owner Vladimir Romanov is continuing his cost cutting despite the 5-1 drubbing of neighbours Hibernian.
Elliott told the club website: "I have had a great couple of years here and to go out in that manner was just amazing.
"I'm leaving with a Scottish Cup winner's medal, so I would have to say my time here has been a success."
The 28-year-old has been a regular starter for Hearts since arriving in August 2010 after his release from Preston North End.
But, despite making 65 appearances for the Scottish Premier League side, he has only scored 11 times - just three coming this season.
Hearts had already announced that Ian Black, who has been their top performer this season, would be leaving at the end of his contract along with fellow midfielders Adrian Mrowiec and David Obua.
Now the Edinburgh club have announced that Elliott, Glen and fellow forward Jordan Morton will not be offered anything when their deals expire in the coming weeks.
Glen came through the ranks at Tynecastle but has made only 25 starts - four this season - since making his first-team debut in March 2007 and was also quoted in diplomatic fashion by the official website.
"It was great to go out on such a high and I'd like to wish the lads the best of luck for next season," said the 22-year-old former Scotland Under-19 international, who has scored seven times for the club.
"I'd like to thank the fans for their support during my time at the club and I'm now looking forward to taking the next step in my career."
The 20-year-old Morton had yet to make his Hearts debut and had been farmed out to Cowdenbeath, eventually crowned Division Two champions, for the first half of the season.
Rudi Skacel, who scored twice and was named man of the match at Hampden, said in the wake of Saturday's victory that he is almost certain to be leaving Hearts as his contract draws to a close.
Spanish winger Suso is another of the Cup-winning starters who is out of contract and whose future at Tynecastle is in doubt.
However, striker Craig Beattie, who signed a short-term deal in February after being released by Swansea City, is hoping to hold re-signing talks with Hearts.