In a club statement, it was confirmed ten players will not be retained, including ex-Scotland striker Leigh Griffiths.
Robbie Mutch, Paul Dixon, Aaron-Taylor Sinclair, Cammy Williamson, Mackenzie Lemon, Gary Miller, Charlie Telfer, Leigh Griffiths, Ben Weekes and Samuel Ompreon will all depart when their contracts expire at the end of the month.
Loan players Jevon Mills, Keaghan Jacobs and Jaze Kabia will also return to their parent clubs as the rebuilding job starts for the Bairns board.
A club spokesperson said: “The club wishes to thank each player for their service and wishes them the very best for the future.”
It is widely expected that Raith Rovers boss John McGlynn will be named the new Falkirk head coach, with the 60-year-old leaving Stark’s Park this month.