Former Sheffield Wednesday man Haslam joined the Cobblers from Halifax at the end of August, and he made only three appearances during his short stay at
Sixfields.
Hughes joined at the same time as Haslam on a month's loan from Tottenham Hotspur and made three starts for Northampton Town during his time at Sixfields.
"I would like to thank both players for their efforts here," said Cobblers
boss Colin Calderwood. "Steve has decided to pursue other options while Mark
has been recalled by Spurs. I would like to wish both players every success
in their future careers."