Veteran striker Macken will depart the Banks's Stadium this summer along with defender Olly Lancashire, midfielders Anton Peterlin and Kevan Hurst as well as youngsters Connor Deards and Jonny Haynes.
But, shaping his squad for next season, boss Smith has opted to keep hold of fellow out-of-contract players Manny Smith, Mat Sadler, Emanuel Ledesma, Alex Nicholls, David Grof, Richard Taundry, Darryl Westlake, Lee Beevers and Jake Jones.
The likes of skipper Andy Butler, Will Grigg, Jamie Paterson and George Bowerman are already contracted to the Saddlers for next term.
Club-record appearance holder Jimmy Walker, 38, will hold further discussions over his future next week while midfielder Adam Chambers boasts an option to exercise his right for fresh terms.
