After lifting a fifth Champions League trophy with Real Madrid, captain Marcelo and midfielder Isco said they will be leaving the Spanish and European champion.
Brazilian defender Marcelo is the most decorated player in Real's 120-year history, picking up his 25th trophy with the club as it beat Liverpool 1-0 in the Champions League final on Saturday.
The 34-year-old made more than 500 appearances for the club during his 16-year stint and inherited the captain's armband from Sergio Ramos following the Spaniard's move to Paris St Germain last year.
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He has found playing time limited in recent seasons, however, and made only 12 appearances in the league during the 2021-22 campaign.
"It is a wonderful moment in my life, I close a cycle here, in the best club in the world," Marcelo told supporters during Real's trophy celebrations in Madrid on Sunday.
"Today is not a day of sadness, but a day of joy because we have once again won the best championship in the world. I am very proud of myself and so is my family. We have lived many magical nights together.
"I tell you one thing, the future of Madrid is very good with the young players. Hala Madrid."
Marcelo, who made his debut for Real in January 2007 after joining from Fluminense, added that his relationship with the club was not at an end, saying he would do "something else at the club" in the future.
Spanish playmaker Isco confirmed his departure on Monday after nine years in the Spanish capital, having made more than 350 appearances and won 19 trophies since arriving at Santiago Bernabeu from Malaga.
Isco, 30, was sparingly used by manager Carlo Ancelotti in the 2021-22 season, playing only 17 times in all competitions.
"After nine years I finish my journey at Real Madrid, a club that has made it possible for me to fulfil all the dreams I had as a kid," Isco wrote on Instagram .
"Apart from fulfilling dreams, winning more titles than I had ever imagined, playing with the greatest players, meeting incredible people - I have had the best time... See you always and Hala Madrid."