One of those is Youri Tielemans as the Foxes prepare for life in the Championship following their Premier League relegation.
Also leaving the club is Caglar Soyuncu, Daniel Amartey, Ayoze Perez, Nampalys Mendy, Ryan Bertrand and Tete.
Leicester have also confirmed that they are in discussions with Jonny Evans about his future beyond the summer.
The Foxes have also exercised their option to extend Hamza Choudhury's contract until 2024.
Dean Smith's side have returned to the second tier of English football for the first time since 2014.
READ MORE PREMIER LEAGUE
Chelsea told Caicedo transfer fee as Blues set to rival Arsenal and Liverpool
Tottenham poised to confirm appointment of Ange Postecoglou as personal terms agreed
They incredibly won the Premier League just two years after promotion as well as the FA Cup in 2021.
Leicester's most notable Tielemans, who will leave at the end of his contract after 195 appearances for the club.
The midfielder will be remembered amongst the Foxes fan base for his stunning FA Cup winning goal in the final against Chelsea.
Amid his departure, the Leicester Mercury report that Aston Villa are the favourites to sign him.
Most read in Football
Redknapp reveals why he rates Postecoglou and says Tottenham players will love him
'The worst 16 hours of my life' - Ex-player of Postecoglou on flight with 'scary' boss
Tottenham poised to confirm appointment of Ange Postecoglou as personal terms agreed
Brazilian star Hulk scores insane 45-yard free-kick for Atletico Mineiro against Cruzeiro
Tielemans will therefore be able to play European football once again as Unai Emery's side prepare for the Europa Conference League play-offs.
There will also be concerns about the future of stars James Maddison and Harvey Barnes, who have been linked with moves to Newcastle and Tottenham.