Daniel Powell will leave MK Dons upon the expiry of his contract, while Charlie Burns and Nicky Maynard are also set to depart Stadium MK.
The 26-year-old told mkdons.com: “I'd like to say thanks to everyone at the Club for what they have done for me and my family over the years, especially the Chairman, fans, my team-mates and managers for making the last 12 years possible.
“It has been life changing for me and I wouldn't change a thing – the Club will be a part of my life forever.”
Chairman Pete Winkelman said: “It’s remarkable for an Academy graduate to come through and make so many appearances in the first team – a superb achievement.
“Throughout his 12 years at the Club, Daniel has provided us with a number of memorable moments and he also played an important role in promotion.
“I’d like to wish him, as well as Charlie and Nicky, all the best in the future.”
Fellow Academy graduate Charlie Burns made three starts and a further two substitute appearances in the first team since turning professional in 2014, including an impressive display at Sheffield Wednesday in the Championship which saw him keep a clean sheet.
Striker Nicky Maynard scored nine goals in 72 games during a two-year stay at Stadium MK after arriving in the summer following promotion to the second tier.
He told mkdons.com: “I’d like to thank everyone connected with the Club for the past two years and wish them all the best for the future.”
Meanwhile, the Club remain in discussions with captain Dean Lewington and Ben Reeves about remaining at Stadium MK.
Further details regarding players’ contracts will be announced in due course.
Everyone at the Club would like to thank Daniel, Charlie and Nicky for their efforts during their spells at Stadium MK and wish them all the best for the future.