Holland, Chris Egan and Sam Iles were all delisted by the Magpies on Tuesday.
Collingwood chief of football Geoff Walsh said Holland had had been an important part of the Magpies for eight years.
“Collingwood wishes to acknowledge Brodie’s eight-year contribution to the club, in which time he played some excellent football and provided a great example of what can be achieved through hard work and dedication,” Walsh said.
The 28-year-old played 36 games and kicked 37 goals for Fremantle from 1998 to 2000, before crossing to the Magpies where he played a further 119 games and kicked 104 goals.
He managed just one game in an injury-riddled 2008.
Egan played 27 games and booted 22 goals in four seasons with the Magpies after being recruited from the Murray Bushrangers with the 10th overall pick in the 2004 draft.
The 21-year-old half forward/wingman played 24 games in his first two seasons before a knee injury restricted him to just one game in 2007.
After playing in the first two matches of the 2008 season, Egan was unable to get back into the side.
21-year-old Iles, also from Tasmania, was selected with the second pick in the 2005 pre-season draft, and made his debut in the black and white against Adelaide in round 18, 2006.
The hard-running midfielder played seven AFL games in 2006 and 2007 but was unable to break into the senior side in 2008.
“Sam and Chris are young players who unfortunately won’t be continuing with the club, however both deserved their chance and worked hard to make it at the elite level,” Walsh said.
The delistings follow the retirements of Scott Burns, Shane Wakelin and Ryan Lonie.
