Tuesday night's 1-1 draw at Exeter clinched the Blue Square Premier title for Town - formed in April 1992 after Aldershot FC had been wound up in the High Court - and booked their place in League Two for next season.
Waddock was sacked by Rangers in September 2006 after winning just four matches during seven months in charge, but he has rebuilt his reputation since taking over at Aldershot last May.
McGinty said: "Hiring a manager is like putting your hand into a draw. You don't believe you will draw the winner, and you don't believe the winner will be so good. Gary has a lot of ambition."