Tomkins joined Crystal Palace in the summer of 2016, and has since made 135 appearances in all competitions.
That total includes 30 appearances in the 2018/19 season, when Tomkins helped the club to equal its joint-best Premier League points tally. The defender has also scored 10 times for the club, most memorably on two separate occasions against Brighton at Selhurst Park.
Riedewald, meanwhile, has played 95 times in all competitions since arriving from Ajax in July 2017, most regularly during the 2020/21 season.
The midfielder has scored three times in red and blue, including an excellent strike against Newcastle in a 2-1 win at St James’ Park, and the winning goal against Stoke City to send Palace through to the 2021/22 FA Cup quarter-finals.
Chairman Steve Parish said: “James and Jaïro have both shown superb dedication and professionalism during their long spells at the club. They have not only been important players at the heart of our recent squads, but also role models to our younger talents.
“We are grateful to them both for their contributions on and off the pitch, and I would like to personally wish them well for the next chapters in their respective careers.”
James and Jaïro leave with the very best wishes of everyone at Crystal Palace Football Club, and with thanks for their service.