Graham Alexander's men finished a disappointing 13th in the table, after appearing to be set for a play-off place for much of the campaign.
One win in their last nine ended any hopes of promotion and the axe has been wielded as the club plan for the 2013-14 campaign.
Youl Mawene's playing contract has been terminated but he will stay at Highbury as a fitness coach.
But fellow defenders Rob Atkinson and Kieran Charnock will leave the club, as will midfielders Anthony Barry, Mozesh Gyorio, Jamie McGuire, Jamie Milligan, Barry Nicholson and Liam Wynn.
Attacking quartet Andy Mangan, Richie Allen, Jean-Michel Fontaine and Danny Rowe complete the released list.
Shaun Beeley and Jamie Allen have had their deals extended by a further year, while Jon Parkin and Gareth Evans are still negotiating with the club after their deals ran out.