The surprising exclusion comes after McLeod had netted 22 goals in 53 appearances for the Underhill club during the last campaign, in which Barnet survived with a last day victory at Burton Albion.
Goalkeeper Dean Brill, Sam Cox, Darren Dennehy, Alassane N’Diaye and Jordan Parkes have also not been offered new deals and will leave the club with imminent effect.
Winger Mark Marshall is a further departure, following his two-year ban for failing a drugs test.
Meanwhile 21-year-old midfielder Sam Deering is set to open new contract negotiations shortly alongside captain and final day hero Mark Hughes.
The decision to not offer McLeod a new deal may come as quite a shock too many Barnet supporters.
Interest is set be too high in 27-year-old, with fellow League Two counterparts Plymouth Argyle already in preliminary talks with the striker.
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