Simpson played 25 games for the Cats across seven years at Kardinia Park, with the forward-midfielder making his debut in 2017.
The 25-year-old would spend over 600 days out of the senior side due to ongoing injury and health concerns but would make his return to AFL level in April this year.
Simpson played in six matches in 2023 - his last coming in Round 12.
Riccardi, who, like Simpson, was drafted under the father-son rule, joined the Cats last off-season and would not make a debut in his 12 months with the club.
Whyte managed one appearance this season, featuring against Carlton in Round 2 as the tactical sub. Whyte joined Geelong as the 64th selection in the 2021 National Draft.
“All three players have been great teammates who are well respected and have lived the Geelong values during their time at the Club," Cats list manager Andrew Mackie said.
“We thank Sam, Cooper, and Osca for their efforts over their time at Geelong and wish them every success in the future. The Club will continue to support them on and off the field.”