A regular figure in South Yorkshire, the 36-year-old amassed 92 appearances for Wednesday between 2012 and 2015.
Shortly after leaving Hillsborough, he reappeared in the county, playing 15 games for Rotherham in just over six months.
A former Scotland international, Maguire has also represented the likes of Derby County, Portsmouth and Sunderland.
He is now set to become a free agent, with National League club Eastleigh having confirmed he will be moving on when his deal expires.
Maguire will depart with an admirable record for the Spitfires, with his goal contribution tally standing at 37 after 94 appearances.
Also departing Eastleigh is former Doncaster Rovers fringe player Deji Sotona, with the Irish forward and Maguire among 10 players leaving.
Eastleigh said: “Eastleigh Football Club would like to place on record our thanks to all the players for their contributions this season and wish those leaving the club the very best for their futures.”
