Players
| No. | Player | Contract End | Details |
| 1 | Scott Loach | June 2013 | 15% Sell on fee to Lincoln |
| 2 | Adrian Mariappa | May 2011 | |
| 3 | Jure Travner | May 2011 | |
| 4 | Scott Severin * | May 2011 | |
| 6 | Jay DeMerit | Summer 2010 | |
| 7 | Don Cowie | May 2011 | |
| 8 | Stephen McGinn | July 2012 | Undisclosed fee - rumoured to be circa £125,000 |
| 10 | Danny Graham | July 2011 | 1 year
further option Fee: £200,000 up front and five instalments of £30,000 for every 15 games plus £200,000 if Watford promoted to the Premiership in the next three seasons |
| 12 | Lloyd Doyley | May 2012 | |
| 13 | Jonathan North * | May 2010 | |
| 14 | Ross Jenkins | May 2012 | |
| 15 | Jon Harley | May 2010 | |
| 16 | Richard Lee | May 2010 | |
| 17 | Dale Bennett | Summer 2010 | |
| 18 | Will Hoskins | May 2010 | |
| 19 | Liam Henderson | Summer 2010 | |
| 21 | Lewis Young | May 2010 | |
| 22 | Will Buckley | June 2013 | Up to £300,000
inclusing add-ons. There is a sell on clause. |
| 23 | Jordan Parkes | May 2011 | |
| 24 | Martin Taylor | June 2012 | Free transfer |
| 25 | Nathan Ellington * | May 2011 | |
| 27 | Mathew Sadler * | May 2011 | Undisclosed add ons |
| 28 | John Eustace | May 2010 | Reportedly cut or abandoned his "appearance" fees |
| 29 | Michael Bryan | June 2011 | |
| 30 | Robert Kiernan * | June 2011 | |
| 31 | Marvin Sordell * | May 2010 | |
| 32 | Billy Gibson | May 2010 | |
| 33 | Lee Hodson | May 2012 | |
| 34 | Eddie Oshodi | June 2010 | |
| 36 | Kurtney Brooks | June 2010 | |
| 37 | Jonathan Bond | June 2011 |
Loan Players
| No. | Player | Status | From | To | Expiry |
| 5 | Henri Lansbury | IN | Arsenal | Watford | May 2010 |
| 20 | Tom Cleverley | IN | Manchester Utd | Watford | May 2010 |
| 11 | Heidar Helguson | IN | QPR | Watford | May 2010 |
| 25 | Nathan Ellington | OUT | Watford | Skoda Xanthi | 31/12/10 |
| 27 | Mathew Sadler | OUT | Watford | Stockport | 09/05/10 |
| 31 | Marvin Sordell | OUT | Watford | Tranmere | 01/04/10 |
| 4 | Scott Severin | OUT | Watford | Kilmarnock | May 2010 |
| 30 | Robert Kiernan | OUT | Watford | Kilmarnock | May 2010 |
| 13 | Jonathan North | OUT | Watford | Oxford City | 22/03/10 |
Financial Interest in former players
| Player | Club | Amount Due / Sell on Fee | Date |
| Ashley Young | Aston Villa | ||
| Tommy Smith | Portsmouth | ||
| Theo Robinson | Huddersfield |
* player out on loan