The defender has made just one first team appearance this season, instead focusing on a player/coaching role with the development squad and U18s but the 37-year-old has decided to call time on his on-field contribution and concentrate on the next stage of his coaching career.
Describing the past eight years spent turning out in the green and white as “an absolute privilege”, he added that it had allowed him to live out his boyhood dream.
“It has been an honour to play for the club that I have grown up supporting all my life and I am so thankful to have first been given that first opportunity at the age of 30,” said McGregor. “I never imagined going on to have the career that I have had and to win the Scottish Cup was just the pinnacle.
“This last year has been really beneficial for me as I made that gradual transition from playing to coaching and I have learned a lot from the likes of Gareth [Evans], Steve [Kean] and a lot of the other coaches here at the club.
“Now, I am delighted to be able to stay at the club and take that next step in my career - helping to develop the next generation of future first team players through coaching the U18s next season.”
From supporter to player, McGregor will go down in Hibernian FC folklore, making 188 appearances and scoring eight goals since joining in 2015, helping the club to Scottish Cup glory in 2016 and then ensuring promotion back to the Premiership the following season.
McGregor captained the Hibees on several occasions during his time in the first team before moving into a player/coaching role at the start of the current campaign working with the development squad and U18s.
The popular player will take to the pitch prior to tonight’s league encounter with Celtic so that fans can thank him for his contribution.