The following items below were present in the alpha version of League of Legends and were either removed or reworked in a later stage of the game.
Ancient Pocket Watch: +5% movement speed, Unique Active: Teleports your champion to a target location. 120 seconds cooldown. 
Bag of Tea: Click to consume, restores 400 health and 200 mana over 10 seconds. It can only be used after scoring a killing blow on a champion.
Blink Dagger: Unique Active: Teleports your champion to a target location once every 2 minutes. Any damage taken during the cast time will interrupt the cast.
Breathstealer: +95 ability power, +70 armor, Unique Passive: 15% cooldown reduction, Unique Active: Reduces target enemy champion's ability power and attack damage by 70% for 4 seconds (600 range). 90 second cooldown. 
Gouging Blade: +25% attack speed, +25 hp per 5 sec, Unique Passive: Chance on hit, to apply a minor damage over time effect that deals 10 damage per second for 10 seconds, during which time the target cannot regenerate their health.
Hexdrinker (old): +20 attack damage, +30 magic resistance, Unique Passive: After taking magic damage you gain attack damage for 8 seconds. Bonus stacks up to 25 attack damage after taking 600 magic damage. 
Lightslicer: +45% attack speed, +12% critical strike chance, Passive: Every third attack becomes guaranteed to hit and deals 75 bonus Magic Damage.
Mana Battery: +300 health, +25 ability power, Unique Passive: 20% chance on attack for your next spellcast to gain +100 ability power.
Marksman's Rifle: +35 attack damage, +20% critical strike chance, Passive: 25% chance on attack to reveal the target to your team, prevent them from dodging, and reduce armor by 20 for 4 seconds.
Mournblade: +15% life steal, Passive: restores 50 health after killing a unit.
Oponn's Razor: +15% life steal, +40% attack speed, Unique Passive: 30% chance on hit to proc a debuff that increases the damage received by enemy champion attacks by 8 magic damage by 8 seconds. This effect stacks to a maximum of 6.
Oracle's Hood: +25% critical strike chance, +500 mana, Unique Passive: Your magic damage has a chance (based on critical chance) to deal 25% extra True Damage. 
Parasitic Recurve Bow: +10% life steal, +40% attack speed, Passive: 5% mana leech.
Razzle's Pride : +550 health, +50 armor, Unique Passive: Shields your champion, absorbing the next 250 damage, +80% of your ability power (25 sec cooldown).
Renewal Tunic: +24 armor, +10 health regen per 5 sec, Unique passive: upon being hit, restores 20 health over 5 seconds, does not stack. Also known as the Renewal Shell.
Runegorger: +50 attack damage, +40 magic resistance, +16% life steal, Unique Passive: After taking magic damage you gain attack damage and magic resistance for 8 seconds. Bonus stacks up to 50 Attack Damage and 50 Magic Resistance after taking 800 magic damage. 
Savant's Stone: +25 health regen per 5 sec, +12 mana regen per 5 sec, PRIME Passive: Subjugate magic- Decreases damage received by area of effect abilities by 20%.
Soul Crystal: +30 ability power, +300 health, Unique Passive Aura: Grants yourself and nearby friendly champions +20 ability power and +200 health.
The Rose's Pride: +52 ability power +64 armor, Unique Active: Shields your champion, absorbing 200 damage + 150% of your ability power; expires after 4 seconds. 45 second cooldown. 
Wizard's Regalia: +25 ability power, +54 armor, Unique Passive: +25 ability power + 60 armor, Unique passive: On being hit by a spell or attack, reduce spell cooldowns by 0.4 sec and restore 20 mana (does not occur more than once a second). 
Wrathfire Bracelet: +70 ability power, +30 magic resistance, Passive: On spell cast, you hit each nearby enemy for magic damage equal to 8% of their current health (4 sec cooldown).
Yordle Stompers: Unique Passive: Enhanced Movement 2, Unique Active: Teleports your Champion to the targeted location. 240 second cooldown.