Midfielder Lewis McGugan and central defender Ryan McGivern have both left the Cobblers.
The pair were signed on short-term contracts following the closing of the summer transfer window, and boss Jimmy Floyd Hasselbaink has decided against extending the Sixfields stay of either player.
“We would like to thank both Lewis and Ryan for their efforts,” said Hasselbaink.
“We wish them both well with their careers moving forward, but we have decided not to extend their contracts at Sixfields.”
Former Nottingham Forest man McGugan joined the club after being released by Sheffield Wednesday, and made his debut in the Checkatrade Trophy clash at Peterborough United at the beginning of October.
He went on to make 10 starts and four substitute appearances, and was a starter as recently as last Saturday at Portsmouth, where he created Town’s goal, scored by Chris Long.
The high point of the 29-year-old’s Cobblers stint was his stunning volleyed goal in the 3-3 Checkatrade Trophy draw with Southampton Under-21s, a strike that won him the club’s goal of the month prize for November.
Northern Ireland international McGivern joined the club as defensive cover in November having been released by Shrewsbury Town, and made just two starts, both in cup competitions, and one substitute appearance in Sky Bet League One.