Both players came through the ranks of the club's academy but failed to secure regular positions in the first team and manager Paul Lambert opts not to renew their contracts
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The 24-year-old made his first steps into the first team in 2009-10 and scored the Premier League's landmark 20,000th goal in a game against Arsenal in December 2011.
Lambert told the club’s official website: "We wish Marc the best in his future career and acknowledge the contribution he has made to the club over the past several years, having graduated from our academy.
"We also wish Nathan the best for his career and thank him for his efforts since he, too, graduated from our academy."
Both men are former England Under-21s internationals.