Daniel Sturridge and Alberto Moreno will leave Liverpool this summer at the end of their contracts.
England striker Sturridge, 29, scored 67 goals in 160 appearances after joining from Chelsea in January 2013.
Spanish left-back Moreno played 141 times for the club, having signed from Sevilla in August 2014.
Liverpool manager Jurgen Klopp said: "The most important words to say to these two remarkable players are 'thank you'."
He added: "Alberto is a person whose personality is reflected in how he plays -- full of life, full of energy, always positive. An unbelievable character who is always willing to give all of himself for the team.
"Daniel has earned the right to be considered a modern-day Liverpool great, I would think. He came to the club while we were trying to rebuild and re-establish ourselves. Some of the goals he has scored for Liverpool were so, so, so important.
"We will miss them of course, but we can say farewell with the best words possible: Guys, you leave as European champions."