Andrey Arshavin, Denilson and Sebastien Squillaci will
leave Arsenal at the end of June
when their contracts expire.
The trio have struggled to feature in recent seasons, with playmaker
both spending time away on loan.
signed from Zenit St Petersburg for a reported £15m in 2009,
is the most high-profile departure.
Arshavin's Arsenal record
- 2008-09: Six goals in 15 appearances
- 2009-10: 12 goals in 39 appearances
- 2010-11: 10 goals in 52 appearances
- 2011-12: Two goals in 27 appearances
- 2012-13: One in 11 appearances
While he made 11 appearances this term, defender
Squillaci, 32, played in one Champions League match at Olympiakos.
The former France international
joined the Gunners
from Spanish side Sevilla for an undisclosed fee in 2010, featuring in only 23 Premier League fixtures during a three-year spell.
Brazilian Denilson was brought from Sao Paulo in 2006, but spent the last two seasons back at his former club on a temporary basis after previously making 156 appearances while with the north London outfit.
For Arshavin, whom manager Arsene Wenger
predicted in April was set to leave,
he scored 31 times in 144 games for Arsenal.
He had appeared to have settled quickly following his January transfer four years ago, scoring all of the Gunners' goals in a
4-4 draw away at Liverpool
the following April.
He netted 22 times over the next two campaigns, but only twice in 2011-12 before being
loaned back to Zenit in February 2012.
His only strike this season came in
Arsenal's 6-1 win over Coventry City
in the League Cup last September.