The 23-year-old has signed a one-year semi-professional contract with Satalyst Giant Racing Team.
In the past, McGregor has had to find the funds to compete in events, but the Perth-based team will now pick up the tab.
There is no accompanying salary, though, and a full professional contract remains a firm goal, he said.
Regardless, it is a good opportunity for McGregor and he is hoping to build on some promising form displayed during last week's Tour of Southland.
McGregor won the award for the most combative rider for his aggressive work at the front of the peloton and in breakaways. He finished sixth in the sprint category and 60th in the overall classification, but admitted he would have liked to have ''done better''.
Satalyst team manager Wayne Evans said on the team's website McGregor had the ability to become a consistent winner in the Australian national road series.
''Alex is a super strong guy who we think can get amongst the winner's circle, as he is a diverse rider who can TT [time trial] and climb well enough to be a threat,'' he wrote.
''I had Greg Henderson give me the heads up about this young rider from New Zealand who he rated, so I looked into it a bit more. I am really pleased to have Alex on for next season after he has been plying his trade in Europe.''
The Satalyst team is based in Perth, but McGregor will remain in Dunedin and fly in and out as required. He starts with the team in January.
His next event is the Oceania track championship in Invercargill later this month, where he will be racing alongside his younger brother, Lachie.
