The Premier League has published end of season squad lists detailing retained and released players for each club in the division.
The reds will see three senior players depart at the end of their contracts - Steven Gerrard, Glen Johnson and Brad Jones - and two youngsters will also depart from the club - Marc Pelosi and Jordan Lussey.
Both of the 20 year olds have failed to make sufficient impact at the club.
Lussey, a long time member of the Academy, spent part of the season on loan at Bolton - whilst Pelosi has endured some injury setbacks during his recent time with Liverpool.
Brad Jones and Glen Johnson have not yet confirmed a deal with another club whilst Steven Gerrard heads off to LA Galaxy later this summer.