The three players will become free agents on Saturday.
The switch-hitting Torres batted.230 with three homers and 35 RBIs this season for New York.
Pelfrey, who has spent parts of seven seasons with New York, made only three starts this year before having season-ending Tommy John surgery on his pitching elbow. He has a career ERA of 4.36 with slightly more than 500 strikeouts in about 900 innings.
Acosta struck out 46 in 47 1-3 innings last season while walking 25 in 45 relief appearances.