Plymouth Argyle have released eight players including attacker Jason Banton and midfielder Dominic Blizzard.
Lewis Alessandra, Anthony O'Connor, Tyler Harvey and James Bittner have been offered deals to stay at the club.
Peter Hartley and Aaron Bentley will remain at Home Park for another season after an option to extend their contracts was taken up.
The news comes less than 24 hours after Plymouth's 5-3 League Two play-off aggregate defeat by Wycombe.
River Allen, Matt Lecointe, Marvin Morgan, Ollie Norburn and Jamie Richards have also been let go, with their contracts coming to an end.
Coach Paul Wotton has formally retired from playing while the loans of Bobby Reid, Zak Ansah, Tareiq Holmes-Dennis and Gethin Jones have all expired.
"On behalf of all Pilgrims, I'd like to thank the players who are leaving Home Park for the part they have played in the life of the club," Plymouth chairman James Brent told the club website.
"Despite the disappointing end to the campaign, we have enjoyed our best season for a number of years - with more points and our highest league placing in a decade."
Pilgrims manager John Sheridan has also said he will consider his position after failing to gain promotion to League One.
Banton joined the club from Crystal Palace in January 2014 after a successful loan spell at Home Park and made 29 appearances this season.
"I've enjoyed every minute playing for Plymouth and couldn't have asked for a better dressing room and set of fans," Banton said on his Twitter account.
"I've been involved in a relegation battle as well as a promotion push, falling just a little short at the last hurdle."