The stalls have been made available after the business decision by Peacocks not to renew their lease which expires on September 30, 2008.
Councillor Adrian Blackshaw, Herefordshire Council's cabinet member for economic development and community services, said: "I am pleased the company is still retaining its Bon Marche store in High Town, which shows that Peacocks remains confident about the city as a shopping centre.
"The Buttermarket is very much the jewel in High Town's crown and we need to ensure it continues to play a key role in attracting visitors and shoppers.
"We will be holding a dialogue with traders at the Buttermarket who will have a key role to play in its future. We will also be carrying out public consultation and detailed market research," he added.
Anyone wanting to lease a stall at the Buttermarket should contact Rick Bodenham on 01432 261517 for further details.