McGregor started his career at Queen's Park after signing from Bargeddie Amateurs.
He joined the club on a free transfer in 1987 and made his debut on 8 August 1987 in a 1–1 draw at home to Dundee United.
He made twenty-nine appearances in his first season, including in the 1988 League Cup win over Aberdeen.
McGregor's career subsequently stalled because of injuries, and he was forced to retire in 1992, joining the Rangers coaching staff soon after.
He became the reserve team coach but left in 2003, replaced by John Brown.