Winger Albrighton has been with the Midlands club since the age of eight, but he will now move on along with striker Delfouneso.
Albrighton, 24, put in some impressive performances after returning from a loan spell at Championship side Wigan Athletic last season but boss Paul Lambert has confirmed he has no future at Villa Park.
The Scot 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."
Delfouneso, who was loaned out to Coventry City during the 2013-14 campaign, is also on the lookout for a new club.
The 23-year-old made only four top-flight starts for Villa, but came off the substitutes bench on another 27 occasions.
Lambert said of Delfouneso: "We also wish Nathan the best for his career and thank him for his efforts since he, too, graduated from our Academy."
