Published Tuesday, 01 November 2011
The pair won three All-Ireland medals each in glittering careers which spanned a decade.
Both aged 31, their decision to step down from the Red Hand set-up follows the departure of double All-Ireland winning captain Brian Dooher, who confirmed last month that his Tyrone career was over.
Speculation remains over a handful of Tyrone's more senior stars, and whether they will be on board for another season in 2012.
Tyrone manager Mickey Harte said the team will miss the "energy and class" Jordan and McGuigan brought.
"I have found both players to be great gentlemen as well as magnificent sportsmen," Harte said.
"The Tyrone team will miss their energy and class on the field. They have contributed so much to Tyrone's most successful decade ever".
Tyrone County PRO Damian Harvey said: "Both Brian and Philip have been hugely successful on Tyrone teams at every level.
"They were exceptional players and they had the ability to change a game in an instant with their vision and pace. We are fortunate that they are such excellent ambassadors for Tyrone GAA.
"Brian in particular has gone through some very tough days to get back into a Tyrone jersey and it was fitting that his last game was in Croke Park. They will both be very difficult men to replace but we must look forward now and find the players to do just that."