Barnet's veteran duo Andy Hessenthaler and Paul Warhust are to leave Underhill at the end of the season. Hessenthaler, 41, and Warhurst, 37, have not been offered new deals by the League Two club.
Former Gillingham manager Hessenthaler is keen to return to a coaching role but has not ruled out playing on, while Warhurst also wants to find a new club.
Bees boss Paul Fairclough has offered new deals to goalkeeper Lee Harrison, 35, and full-back Joe Devera, 19.