Lyle, left, who joined Ton in January, will become the seventh player to be freed by Moore this week.
The player had continued to turn out for the club despite hitting the headlines after his arrest and subsequent court appearance last month, where he was charged with drugs offences.
But the club have now offered a contract to Carlo Monti, after discussions between Moore and the player's agent this week.
The Ton boss said: "Derek won't be staying with us after this season - but we have offered Carlo Monti a new contract which he is looking at."
Meanwhile, Stuart McCaffrey and Marc Smyth have now both signed new contracts with the club which will keep the pair at Cappielow for another season.
The central defensive duo have established themselves as stalwarts this term - with McCaffrey assuming the role as club captain.
And Brian Graham is ready to follow suit after verbally agreeing terms on a new deal - with the striker hopeful of putting pen to paper on the contract by the weekend.
Graham, who became a father for the first time last week, admits he is looking to make an explosive start to next season.
He said: "I've spoken to the gaffer and he's going to offer me a new deal and wants me to stay fit over pre-season and hopefully get firing right from the start.
"I've not signed anything officially yet, but I'll hopefully get it tied up by the end of the week.
"When I spoke to the gaffer he said what he was willing to offer and it was okay so I agreed, so it's just a case of him coming back to me with the paperwork now and getting it tied up."