Jamie Barjonas, Joe Cardle and Kallum Higginbotham, are three of nine players heading out the door at New Central Park.
Darren Jamieson, Lewis Martin, Reis Peggie, and Dougie Hill will also be leaving the club.
As previously reported by the Times, Alfredo Agyeman and Ross Philp complete the exit list with the former set for a move to fellow League One side Falkirk.
Jack Milne, Robbie Leitch, Arron Darge and Kanayo Megwa will all return to their parent clubs.
The update leaves eight players retained for next year under new boss Michael Tidser.
Senior players Nathan Austin, Thomas O’Ware and Jason Thomson will be playing for the club, with Robbie McNab also returning from his loan at Darvel.
Young prospects Scott Cameron, Liam Campbell and Finlay Shearer are tied down, whilst Tiwi Daramola, a pre-contract signing from Bo’ness Athletic, will make his planned transfer.
The status of both Jordon Forster and Darren Lyon have not been disclosed.
A statement from the club said: “We would like to take this opportunity to thank every player for their effort and commitment while playing for Kelty Hearts and we wish everyone well in their new endeavours both on and off the pitch.
“We would like to extend our thanks to Aberdeen, Cove Rangers, Hearts of Midlothian and Hibernian for the Loan of players Milne, Leitch, Darge and Megwa.
“All of whom progressed well while at New Central Park and helped the club secure a place in League One for next season.
“We would also like to give a special thanks to Ross Philp.
“Ross initially joined Kelty Hearts in 2012 and would go on to play with Kelty right through from the Juniors Super League to SPFL League One Football, playing a crucial part in many historic games for the club along the way.”