Nathaniel Mendez-Laing, Massimo Luongo and Joe Wildsmith have declined new contract offers and will leave Hillsborough at the end of June.
Mendez-Laing joined the Owls in November last year, going on to make 19 appearances.
Luongo signed for Wednesday in the summer of 2019 and played 73 games, while Wildsmith posted 89 appearances having graduated from the SWFC academy.
The Owls would like to thank all three players for their services and wish them well for the future.