The Gunners enter the summer transfer window on the back of an unexpected second-placed finish in the Premier League, leading the way for 248 days before being pipped to the post by Manchester City.
As Mikel Arteta's side prepare for a return to the Champions League, the Gunners are supposedly planning to spend as much as £200m on new players as they aim to continue dining at Europe's top table.
However, in order to succeed with big-money moves for the likes of Declan Rice and Kai Havertz, Arsenal must free up space on their wage bill, and a couple of notable names will be moved on to make room for summer arrivals.
From the men's first team, Under-23s and Under-18s, six players will seek pastures new this summer, including Hale End graduate Ainsley Maitland-Niles, who has been with the club since 2003.
The 25-year-old - who spent the 2021-22 season on loan at Southampton - had already confirmed that he would be departing at the end of the season, having failed to make the grade under Arteta since the Spaniard's arrival.
Maitland-Niles leaves having registered three goals and eight assists in 132 matches for the Gunners, winning three FA Cups and two Community Shields with his boyhood club.
The versatile Englishman is the only male player with first-team minutes confirmed to be leaving, as Arsenal have revealed that talks to extend Reiss Nelson's contract are ongoing.
As well as Maitland-Niles, Under-21s captain Matt Smith will also bid his farewells, having failed to make a single senior appearance for the North London club since joining in 2009.
However, the 22-year-old was a part of the Gunners' FA Cup final-winning squad in the 2019-20 season and therefore collected a winners' medal, despite only being an unused substitute in their victory over Chelsea at Wembley.
Goalkeeper Tom Smith, defender Zach Awe and wingers Joel Ideho and George Lewis will follow Smith out of the exit door, while a quartet of academy scholars in Kaleel Green, Alexandar Kovacevic, Tino Quamina and Mathaeus Roberts have been released.
In addition to the 10 male players departing, Arsenal Women's trio Mana Iwabuchi, Fran Stenson and Rafaelle Souza - the former of whom spent the second half of the season on loan at Tottenham Hotspur - have all called time on their North London careers.
Arsenal are also expected to offload several of their existing first-team players in the current transfer window, including Charlie Patino, whose name was not mentioned as part of the Gunners' released list.
Folarin Balogun, Rob Holding, Nicolas Pepe, Kieran Tierney, Albert Sambi Lokonga, Alex Runarsson, Cedric Soares and Auston Trusty could all be offloaded in the coming weeks, while midfield duo Granit Xhaka and Thomas Partey are also being linked with exits as Arsenal attempt to get a deal over the line for Rice.
Arteta's side apparently saw their opening bid of £90m rejected by West Ham United on Thursday, but the Gunners are understood to have already submitted an improved offer for the 24-year-old, whom West Ham reportedly value at £110m.