Kilmarnock goalkeeper Cammy Bell has left the club by mutual consent, while Wolves defender Aaron Simpson has arrived on loan.
Bell made his Killie debut in 2009 and went on to play 131 games, including the 2012 Scottish League Cup final victory over Celtic at Hampden Park as the club secured the first piece of major silverware in their history.
He went on to join Rangers on a free transfer in July 2013 and spent three years at Ibrox before moving on to Dundee United.
Bell also played once for Scotland in the 3-0 victory over the Faroe Islands at Pittodrie in November 2010.
Kilmarnock have also brought a player into the club on transfer deadline day, with Wolves defender Simpson coming in on loan until the end of the season.
The 20-year-old defender, who primarily plays as a right back, is yet to play a first-team game for Wolves.
Simpson did have a loan spell with Portsmouth last season and spent the early part of this campaign with Evo-Stick South Premier side FC Hereford, playing for them in the first round of the FA Cup against AFC Telford United.
He will now get the opportunity to experience top-flight football.
Meanwhile, 19-year-old Daniel Higgins has signed for Scottish League One side Airdrieonians until the end of the season.