"We want to thank Hassan and Hosni for their efforts with the club," football director Sayed Abdul-Hafiz told the club's official website.
"They are excellent players and we wish them a successful future."
Egypt captain Hassan has played three years for Ahli after joining from Belgian giants Anderlecht.
The 35-year-old midfielder won three league titles as well as the African Champions League.
He scored in the 2-2 draw with MCDR in the league finale on Sunday, a goal that prompted emotional reaction from the fans.
They started chanting 'let him stay … let him stay' urging the board to offer him a contract extension.
However, Ahli manager Manuel Jose looked eager to let him go in subtle post-match quotes.
Hassan is set to join Ahli's arch-rivals Zamalek, who have been in contact with him during the past few weeks.
Osama Hosni has been playing for Ahli's first team since 2003 but was never a starter for Egypt's most successful club.
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