The trio are leaving Everton when their contracts expire at the end of June.
Bournemouth's Charlie Daniels in action with Everton's Tony Hibbert
The club confirmed via their official website on Friday that all three would be leaving Goodison Park when their contracts expire on June 30.
The Blues are expected to be busy this summer as Farhad Moshiri has reportedly offered incoming manager Ronald Koeman big transfer funds.
The first stage of their plans however, was deciding upon which out of contract players would be handed new deals at the club. Darron Gibson signed a new two-year at the club on Thursday, but three other veterans have not been so lucky.
Everton's Leon Osman in action with Southampton's Cuco Martina
Hibbert and Osman leaving brings about an end to life long associations with the Toffees, with both players having come through the youth ranks at the club.
Pienaar meanwhile is ending a nine-year association with the Blues having initially joined on loan in 2007 and then returning in 2012 after a brief spell at Tottenham Hotspur.
All three played a big part at the club over the last decade and more, and Everton fans have reacted to the news of their departures on Twitter.
Pienaar,Kone and McGeady released and Osman and Hibbert given a coaching role with the kids,do it @Everton.— kb (@KBURKE1878) June 10, 2016
Osman could do a job like Barton did in the championship, Hibbert will retire, Pienaar's goin to Africa? Out with the old in with the new— The Pogs of War (@Poggymac) June 10, 2016
Hibbo, Osman and Pienaar gone then, doesn't feel right that— Kieran (@NoAbelNoParty) June 10, 2016
good luck in the future osman pienaar and hibbert, they have been class and will hold special memories for all blues. but its the right call— steve harding (@stevietoffee) June 10, 2016
Hibbert Osman & Pienaar released yet we keep Gibson? Someone please explain this logic to me.— Mark Stephenson (@MarkSte53868686) June 10, 2016
I'd of kept Osman... Especially when we're still paying McGeady & Kone money every week... Real life money!!! https://t.co/9MPH900V99— Rob Marsh (@RobMarsh82) June 10, 2016
Osman, Hibbert and Pienaar all released! They were great servants for us in the past but now is the right time for a change!— Molly Harrison (@MollyOHarrison) June 10, 2016
Pienaar was a good player, osman and hibbert average at best. Forget sentiment. If we want to be successful again we have to aim big #COYB— EFC People's Group (@ThePeoplesGroup) June 10, 2016
Right decision releasing osman hibbert and pienaar Maybe Gibson could of too, but 3 out of 4 isn't bad— Terry y EFC (@efc_ty) June 10, 2016