It was also announced at the same time that local lad Jon Flanagan will leave the club he has been at since he was a boy.
Liverpool have announced that a series of players will be leaving the club this summer on the expiry of their contracts.
He played 51 senior games with Liverpool after his debut in 2011, with the bulk coming in a break through 2013-14 campaign in which he started 23 Premier League games.
Talks with Can had stalled midway into last season itself, with the 24-year-old Can keen on a switch to Serie A giants Juventus. Loan spells at Burnley and Bolton were not enough to convince Jurgen Klopp to offer him new terms and he too is now on the lookout for a new club.
The only other departure that could be seen as potentially "high profile" is Jon Flanagan with the 25-year old being let go by his boyhood club after a troubled season.
Youth players Toni Gomes, Paulo Alves, Micheal Parker, Jordan Williams, Anthony Glennon, Jordan Hunter and Harvey Whyte will also leave the club.