Maguire confirmed on social media on Sunday that he is no longer captain of Manchester United following talks with Ten Hag.
It was reported earlier this month that Ten Hag was ready to remove Maguire from the role after the England defender's limited appearances under the Dutchman last season.
The central defender made just eight Premier League starts, leading to ongoing speculation over his future at Old Trafford.
"After discussions with the manager today he [Ten Hag] has informed me he is changing captain," Maguire wrote on Twitter.
"He outlined his reasons to me and whilst I'm personally extremely disappointed, I will continue to give my all every time I wear the shirt.
"So I wanted to say a massive thank you to the Manchester United fans for all their brilliant support whilst I've been wearing the armband.
"Since the day I took on the role, three-and-a-half years ago, it's been a huge privilege to lead Manchester United and one of the proudest moments of my career to date. It's one of the greatest honours in club football. I've done everything I possibly could to help United be successful - on and off the field.
"I will always be grateful to Ole Gunnar Solskjaer for first giving me the responsibility and I wish whoever now takes it on every success and they will have my full support."
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