Mumbai Indians, the five-time champions, have announced the list of players released and retained for the IPL 2023 season. Last season, the team finished last in the 10-team table and will be hoping for a better showing this season. It is worth noting that the deadline for all ten IPL teams to submit a list of the players they intend to use in the tournament was November 15. It is worth noting that a mini-auction will be held in Kochi ahead of the tournaments 16th edition on December 23.
The purse remaining with the five-time IPL champions is ₹ 20.55 crore.
The Mumbai Indians have decided to keep 15 players while releasing 13. Anmolpreet Singh, Aryan Juyal, Basil Thampi, Daniel Sams, Fabian Allen, Jaydev Unadkat, Kieron Pollard, Mayank Markande, Murugan Ashwin, Rahul Buddhi, Riley Meredith, Sanjay Yadav, and Tymal Mills have all been released by the Mumbai Indians.
| Player | Role | Retained Amount |
| Rohit Sharma | Batter | Rs. 16 crore |
| Ishan Kishan | Wicket-keeper | Rs. 15.25 crore |
| Jasprit Bumrah | Bowler | Rs. 12 crore |
| Suryakumar Yadav | Batter | Rs. 8 crore |
| Jofra Archer | Bowler | Rs. 8 crore |
| Tim David | Batter | Rs. 8.25 crore |
| Daniel Sams | All-Rounder | Rs. 2.6 crore |
| Dewlad Brevis | Batter | Rs. 8 crore |
| Tilak Varma | Batter | Rs. 1.7 crore |
| Jason Behrendroff (trade) | Bowler | Rs. 0.75 crore |
MI has released players. 2023: The Mumbai Indians may release Jaydev Unadkat, who was signed for INR 1.30 crores in last years mega auction but only took 6 wickets in 5 matches last season. Mumbai may take a look at him and try to fill a worthy backup player at this price.
Another notable player is Fabian Allen, who was purchased for INR 75 lacks in the IPL 2022 season. He played just one game in the previous edition and scored 14 runs, which may push him off the list of needed players.
| Player | Role | Released Amount |
| Kieron Pollard | All-rounder | Rs. 6 crore |
| Fabian Allen | All-rounder | Rs. 0.75 crore |
| Tyma Mills | Bowler | Rs. 1.5 crore |
| Mayank Markande | Bowler | Rs. 0.65 crore |
| Hrithik Shokeen | Bowler | Rs. 20 Lakhs |
| R Meridith | Bowler | Rs. 1 crore |
| Aryan Juyal | Wicket-Keeper | Rs. 20 Lakhs |
| Sanjay Yadav | All-rounder | Rs. 50 Lakhs |
| Murugan Ashwin | Bowler | Rs. 1.6 crore |
| Rahul Buddhi | Batsman | Rs. 20 Lakhs |
| Anmolpreet Singh | Batsman | Rs. 20 Lakhs |
| Jayden Unadkat | Bowler | Rs. 1.3 crore |
| Basil Thampi | Bowler | Rs. 30 Lakhs |
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