Just five days after sacking club legend Kevin Walters, the Broncos confirmed on Tuesday that Maguire would take over the team immediately ahead of the 2025 pre-season.
Maguire's appointment marks a stunning turnaround for the 2014 premiership winner, who was sacked by the struggling Wests Tigers midway through 2021.
He has since won a Pacific Championships with New Zealand and an Origin series with NSW, before now returning to club land with 2023 grand-finalists Brisbane.
"The Broncos are one of rugby league's great clubs and it will be an honour to step into the role of head coach," Maguire said in a Brisbane club statement.
"The Broncos organisation has a high expectation on everything it does.
"It's built a great history and shown the strength of what a club can be and what it can mean to fans.
"Playing my part in the great vision of what the Broncos stand for is the exciting part for me."
Maguire's immediate challenge at Brisbane will be to pull the playing group into line, with questions around their attitude following their defeat in last year's grand final.
The club's drop to 12th place on this year's ladder marked one of the greatest slides in premiership history, despite them having one of the NRL's most star-studded rosters.
Maguire is also bound to face challenges from the Broncos' all-powerful old boys club.
Four years after Anthony Seibold noted their "agendas" on his way out of Brisbane in 2020, it is already clear things will be difficult for another outsider.
Broncos legend Shane Webcke last week questioned why the club would sack Walters. Gorden Tallis also slammed the decision on Monday night.
"I don't think he (Maguire) is better than Kevin," Tallis said on NRL 360.
"The people who are running the club - Wayne Bennett wasn't good enough but he was good enough for Souths. And Peter V'landys wanted him to build a club.
"Seibold, who has done a great job at Manly, he wasn't good enough.
"Kevvie wasn't good enough. They keep on moving on coaches. The club is not going to move forward.
"Jack Gibson said winning starts in the front office."
Tallis also said Maguire should "lose his number" as he would not be there to help him, given he was officially employed by the Titans.
Meanwhile, Maguire's departure leaves the Blues back at square one after only appointing him as State of Origin coach last summer.
Maguire had spoken at a luncheon on Friday about his plans for NSW in 2025, but by Saturday morning, he had informed NSWRL chairman Paul Conlon of his interest in the Broncos role.
A snap board meeting on Monday resolved to release Maguire from his contract, before paperwork was completed overnight.
Maguire becomes the first Blues coach since Terry Fearnley in 1985 to depart the role immediately after winning his first series.
"The NSW Rugby League Board has agreed to a request from Michael Maguire to be immediately released from his contract," the NSWRL said in a statement.
"The organisation wishes to acknowledge a successful tenure on the part of Michael Maguire culminating in the 2024 State of Origin series win.
"We wish Michael and his family the very best for the future. NSWRL will commence a recruitment process to appoint a new coach in due course."
Paul McGregor looms as a potential option, while Danny Buderus John Cartwright and Andrew Johns are among others who have been on the Blues' staff in recent years.
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