Maguire scored 31 goals for Spartans last season and played a key role in the Premier Division club's run to the third round of the FA Cup and top-six finish.
Despite signing a two year deal with Shaymen in May, the 22-year-old, pictured in action, was a notable absentee from manager Neil Aspin's pre-season programme having not made a single appearance.
In a statement confirming his departure, the Shaymen said Maguire was allowed to return to his native North East and Croft Park after struggling to balance his personal and work commitments with travelling to and from Yorkshire.
A spokesman said: "Due to both personal and business commitments, the player felt on reflection that he would not be able to sustain the travelling required to play for the Shaymen.
"After careful consideration, an amicable solution has been agreed between all parties, to allow Danny to resume his playing career with his local club."
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