Ashley Cole has not been offered a new contract by Derby County after the team failed to earn promotion to the Premier League.
The former England left-back, 38, is set to leave Frank Lampard's side, which was beaten by Aston Villa in last month's Championship play-off final.
Efe Ambrose, Alex Pearce, David Nugent and Marcus Olsson are also to be released, while the loan deals of Fikyao Tomori, Harry Wilson, Mason Mount and Andy King have concluded.
Cole made 11 appearances in the Championship after reuniting with former Chelsea team-mate Lampard in January.
Lampard continues to be linked with a return to Chelsea should head coach Maurizio Sarri depart.