Hatters have confirmed that Anthony Charles, Jon Shaw and David Viana have not been offered new contracts with the club and will leave when their current deals expire next month.
Town manager John Still has also placed winger Dave Martin and central midfielder Solomon Taiwo on the transfer list.
Shaw, 30, leaves Kenilworth Road having scored 10 goals in 51 appearances following his move from Gateshead in the summer of 2012.
The experienced front man suffered a hernia injury at the beginning of this season which kept him out for large chunks of the campaign.
Defender Charles, 33, departs having picked up his third Conference winners medal with the Hatters as a combination of injuries restricted him to just eight appearances.
Meanwhile, Portuguese midfielder Viana, 22, has struggled to force his way into the Town side since joining the club in September following a successful trial, playing just three times in the FA Trophy.
Both Martin and Taiwo have been made available for transfer as they have struggled to break into the team, spending time on loan at Dartford and Aldershot respectively.
Manager John Still told the club’s official website: “First of all I’d like to say that every player involved in the squad this season has helped contribute to our success.
“In Jon and Anthony’s case injuries have not helped them which is really unfortunate.
“At centre-back, especially, it has been a difficult campaign for us and in the end injuries to Andy Parry and Alex Lacey led to us signing Fraser Franks and that has meant it has been difficult for Anthony to get back into the side.
“Competition for places has also made it tough for Jon to stake a regular starting place, especially given the form of Andre Gray, Paul Benson and Mark Cullen.
“His contract is now up and I think it is in his interests to seek regular first team football, as that is something I can’t guarantee here.
“In David’s case, we signed him to see how he would progress and unfortunately we did not believe that he pushed himself forward enough during his time here. He always trained professionally and gave 100 per cent.”
Meanwhile, on the transfer-listed duo Martin and Taiwo, Still added: “Dave started the season but once he was out of the side he couldn’t get back in due to the form of Jake Howells. He’s at an age that he needs to be playing regular football.
“As for Solomon, again he started the season and was playing through an injury which showed great character.
“He had a hernia operation but by the time he was fully fit we had Cameron McGeehan and Pelly Ruddock with us, and their form made it difficult for him to get back into the side. He needs to be playing regular first team football and with that in mind that’s why we’ve made him available.”
The news comes just two days after Lathaniel Rowe-Turner, Jerome Jibodu and Jake Woolley were also released by the club.
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