McKenzie played a career high 14 games in 2016, but even that wasn’t enough to justify a contract renewal.
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The 18th overall pick in the 2011 Draft, McKenzie made 37 appearances in the blue and white for North Melbourne.
Tippett played just seven games for North after being selected in the 2013 Rookie Draft.
General Manager of Football Cameron Joyce wished the pair well for the future.
“These decisions are always tough,” Joyce said.
“Both Brad and Joel have been great contributors during their time with us and we sincerely wish them all the best. Hopefully they can continue their AFL careers because both are very capable players.”