Hearts will not be offering new deals to midfield duo Scott Severin and Steven Boyack or striker Andy Kirk.
Andy Kirk is one of those on his way out of Tynecastle
The trio will leave the Edinburgh club in June when their contracts expire.
Manager Craig Levein had hoped to keep all three players but the said the cost of remaining at Tynecastle next season would curtail his spending.
The news is better for midfielder Neil MacFarlane and defender Robbie Neilson, who are set to sign new two-year deals with next season's Uefa Cup entrants.
"The fact that we're staying at Tynecastle for another year means that we have to continue paying interest on our overdraft," Levein said last week.
"There's nothing more frustrating than losing players we want to keep because that should only happen for footballing reasons."