Veterans Hughes and Granville were plagued by injuries over the past season which kept them out of the starting line-up.
Black has struggled to establish himself in the first team for the last couple of years.
However, boss Peter Taylor revealed that 35-year-old Hughes may still be offered a new deal if he is unable to find an adequate midfield replacement.
Black made 153 appearances for Palace, scoring 17 goals. Granville made 138 appearances, scoring 10 goals. Hughes made 141 appearances, scoring 10 goals.
Meanwhile, Dougie Freedman, Gary Borrowdale and youngster David Wilkinson have been offered new deals.