Bolton have released Ivan Campo, Stelios Giannakopoulos and Andranik Teymourian but aim to keep key men Jussi Jaaskelainen and Ricardo Gardner.
Trotters boss Gary Megson is hopeful of persuading goalkeeper Jaaskelainen and defender Gardner to sign new contracts. Wanderers finished just a point above the Premier League relegation zone after staging a remarkable escape and Megson has started planning for next year by dispensing with three of his midfielders.
"Ivan, Stelios and Andranik have all done well for Bolton Wanderers and I'd like to express my gratitude to them," said the Bolton boss.
"It's time for them to move on and I wish them all the best."
Jaaskelainen and Gardner's contracts expire at the end of June but Megson remains hopeful of extending their stay at the Reebok Stadium.
"Jussi and Ricardo have both been excellent servants and are still very much part of my future plans for this football club," he told the club's website.
"Hopefully, we can get them secured on new deals as soon as possible."