[7] On 9 June, the Phoenix confirmed the departure of captain Ulises Dávila in spite of the club's record-setting efforts to retain him.

[8][9] On 10 June, the departure of Stefan Marinovic was confirmed by the Phoenix after he had signed with Israeli club Hapoel Nof HaGalil.

[13] Following the conclusion of the 2020-21 A-League season, on 25 June, the Phoenix confirmed the departure of Cameron Devlin, Liam McGing, Luke DeVere, Te Atawhai Hudson-Wihongi, Matthew Ridenton, Charles Lokolingoy, and Mirza Muratovic.

[19] On 13 September, the Phoenix announced that academy players Ben Old and Alex Paulsen had signed three-year professional contracts with the club.

[21] On 13 October, the Phoenix bolstered their defensive stocks by securing a season-long loan deal for 20-year-old Melbourne Victory centre-back Matthew Bozinovski.

[23] On 22 October, the Phoenix signed reserve team players George Ott and Kurtis Mogg on one-year scholarship contracts ahead of the A-League Men season.

Other players with first-team appearances Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.