Both were on the bench in Madrid as Liverpool beat Tottenham in the Champions League final, but neither player had been a regular for the Reds in 2018/19.
Sturridge managed 27 appearances in all competitions, but mostly as a substitute and he started just four times in the Premier League. Playing second fiddle to Andrew Robertson, Moreno featured in even fewer games and didn't appear in the Premier League after 5 December.
Speaking to LiverpoolFC.com, manager Jurgen Klopp commented, "The most important words to say to these two remarkable players is 'thank you'.
"They were here when I arrived as manager and during that period they - as much as anyone - helped to establish us as a team that would be heading in the right direction. Without them we wouldn't be the team and club we are in this moment."
Klopp even labelled Sturridge a 'modern day Liverpool great' because of his 'important' goals.
The England international famously starred alongside Luis Suarez during the 2013/14 campaign when the Liverpool came close to winning the Premier League title. Unfortunately, injuries hit the following season and eventually reduced him to the role of a back-up under Klopp.
"I wish both players nothing but success and joy wherever their journey takes them next. Whoever has them next will be so lucky to have these outstanding personalities in their ranks," the German coach went on to add.
"We will miss them of course, but we can say farewell with the best words possible: Guys, you leave as European Champions."
Sturridge is expected to be in the interest of a number of clubs, with Leicester, Celtic, Aston Villa and Crystal Palace listed among the favourites to sign him. However, a move to Major League Soccer may beckon.