The former Tiger played 105 games with Richmond before moving across to the Lions at the beginning of 2014, where he only managed seven games due to a horrid run with injuries.
“My body has given up on me and as much as I’d love to continue to play on, it’s clear my body won’t deal with it,” McGuane said.
“I’m obviously really disappointed – getting back out there and playing the last four games has been incredibly enjoyable, and something I wasn’t sure was going to happen after all the injuries I’ve had over the last few years.
“I’ll have very fond memories of my career and am happy to have got to play so long in the AFL system… I feel blessed to have had such a long career in the AFL.
“It’s been hard too, because I’ve been injured for 90 per cent of my time here, but it was great to finish off my career up here with my family around me.”