Defender Bassong, 30, who has won 15 caps for Cameroon, and goalkeeper Ruddy, who played once for England in 2012, are among seven players let go by the Canaries, who are eighth in the table.
Also released are Democratic Republic of Congo midfielder Youssouf Mulumbu, Scotland full back Steven Whittaker and 58-cap striker Kyle Lafferty, who scored seven goals in Northern Ireland's qualifying campaign for Euro 2016.
Norwich are restructuring their squad following their relegation from the Premier League in 2016.
(Reporting by Neil Robinson, editing by Ed Osmond)
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