Dougie Fife among players to leave Edinburgh Rugby
Fife, 25, won the last of his six caps at the end of the 2015 Six Nations.
Toolis, whose twin brother Ben remains at the club, is returning to Australia to play. Backs Jack Cuthbert, Otulea Katoa, Nick McLennan and Jade Te Rure, plus prop Grant Shiells, are also heading for pastures new.
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Hide AdEdinburgh had previously announced that Matt Scott, Sam Beard, captain Mike Coman and John Andress would be leaving at the end of the campaign.
Head coach Alan Solomons said: “Everyone associated with the club, on and off the field, would like to wish all the players the very best for the future and thank them for their loyalty and commitment over the years.”
Edinburgh play Cardiff Blues at BT Murrayfield on Saturday in their final PRO12 game of the season. They need a bonus-point win and other results to go their way to secure the top-six finish which would bring qualification for the European Champions Cup.