The 28-year-old Northern Ireland international, who can also play as a striker, ended a loan spell with league rivals Torquay United last month having played against The Shots on December 2nd, and earlier in January featured for The Hatters in their Checkatrade Trophy tie against Peterborough United.
In total, he scored 8 goals in forty-five games for The Hatters.
McQuoid, who made his senior debut with AFC Bournemouth in 2007, has made over 270 career appearances, including thirty-seven in the Championship, and was joint top scorer for The Cherries in League One in 2010/11 with 12 goals from just eighteen appearances. This form earned him five caps for Northern Ireland in 2010 and 2011.
The Southampton-born winger has also played for Millwall, who paid a fee of £550,000 for his services, Burnley, Peterborough United, for whom he scored in a Football League Trophy Final victory at Wembley, Coventry City and Stevenage.
“I spoke to a few lads who had worked with the gaffer before and they all spoke very highly of him, and that was a big positive,” McQuoid told Shots press officer Steve Gibbs. “I also spoke to Danny Hylton, and he spoke very highly of everything about the club.
“I’ve played against Aldershot Town a couple of times this season and they play good football, and with their league position it was a no-brainer for me”.