Midfielders Luke Guttridge and Ben Harding have left the Cobblers after failing to agree terms on new contracts at the club.
Both were offered new contracts at Sixfields at the end of last season, but it has been announced that they will be playing their football elsewhere in the new season.
The pair started the play-off final defeat to Bradford City and Harding in particular was a regular in the side after being signed by Aidy Boothroyd from Wycombe Wanderers in January 2012.
“I would like to place on record my sincere thanks to both players for their work over the last 18 months or so,” said Boothroyd.
“They have both played major roles in helping us avoid relegation the season before last and then getting to Wembley last season.
“We made both players offers at the end of last season, but both feel the offers are not what they are looking for and we fully respect that. We have shaken hands and we wish them both well and every success for the future.
“They are both good personalities and wherever their futures may take them, they go with our thanks and best wishes.
“Just as they will move on, we have moved on, we are in talks with our midfield targets and we are looking forward to the start of pre-season on Friday.”
The Cobblers earlier confirmed the signing of Torquay United midfielder Ian Morris on a two-year contract.