The 20-year-old spent the last campaign in England on loan at Notts County, where he scored 14 goals in 40 games.
However, McGregor is now hoping to be given a fresh chance by the Scottish champions when they return to action after the summer.
"The fact the club are changing managers will make it difficult, but I'm definitely determined to come back again next year and try to break into the team," he told PA.
"I've had a good season so now I want to take that back with me to Lennoxtown and do everything I can to earn my place."
McGregor signed his first professional contract with Celtic last year.