The following is a list of players eligible to be drafted out of the Reds' organization in the major league portion of the 2011 Rule 5 Draft. This is not a complete list.
The Reds added the following players to the 40-man in December, thereby protecting them from the Rule 5 Draft (though, in some cases we're not sure why): Kyle Lotzkar, Pedro Villareal, Didi Gregorious, Henry Rodriguez, Neftali Soto, and Donald Lutz
Eligibility rules can be found here. Drafted players must stay on drafting team's active roster or MLB DL for entire season or else be offered back to their original team for a pittance.
The deadline to set major league and minor league reserve lists in order to protect players from the Rule 5 Draft is November 19, 2011. The 2011 Rule 5 Draft takes place this year on December 8.
*Eligible for minor league free agency.