Strikers Kieran Agard and Chuks Aneke have both been offered new contracts to remain at Stadium MK next season.
The duo scored 41 goals between them last season, helping Dons secure promotion. But with both out of contract and eligible to leave, Paul Tisdale has made moved to keep both as they head into League 1 next season.
In three seasons with MK Dons, Aneke has scored 33 goals in 94 appearances, while Agard has 44 goals in 140 appearances.
There were few surprises in the players released though. Mathieu Baudry, Ousseynou Cisse, Lawson D’Ath, Mitch Hancox, Oran Jackson, Robbie Simpson, Liam Sole, Finn Tapp, Brandon Thomas-Asante and Ryan Watson all depart.
"Hardly one player has ended the season but isn't good enough to go into next season's squad," said Tisdale earlier this week. "But when a manager is looking to make a few signings to create a new dynamic, I can't just accumulate 30, 40 players! Unfortunately, we get to this point and I have to make a decision. We had a lot of players anyway, more than we would have had."
Players retained: Dylan Asonganyi, Callum Brittain, Baily Cargill, Alex Gilbey, Ryan Harley, Jordan Houghton, David Kasumu, Dean Lewington, Russell Martin, Conor McGrandles, Stuart Moore, Jordan Moore-Taylor, Lee Nicholls, Sam Nombe, Joe Walsh, George Williams.