Maxwell said on Thursday he was happy to stand aside for Scott Pendlebury, who was named Collingwood's new captain on Wednesday night after six seasons in the leadership group.
Rookie-listed by the Magpies in 2002, Maxwell was made captain in 2008 but his place in the Collingwood team has become increasingly uncertain across the past two seasons.
The 30-year-old knows another season of injuries could end his AFL journey.
"I'm approaching this year like it is my last," Maxwell said on Thursday.
"I'm not saying it is or it isn't (my last year). But if you have that approach – that's the only way you are going to get the best out of yourself."
"I have had a few injuries here and there but hopefully I get a better run with it."
Maxwell admitted he thought about volunteering to step away from the Magpies leadership group altogether.
"We talked about that but in the end we have got five new guys who have come in who have not been in the leadership group before and to be there to help them with their development is important," he said.
"Scotty's going to have his hands full too."
Captain for the past five years, Maxwell said his demotion this season was discussed throughout 2013.
"I have enjoyed the last five years. It's something that has meant a lot to me and I have loved the responsibility that has come with the role,'' Maxwell said.
"It's about moving forward as a side. We had discussions going back to Feb last year where we spoke about the succession plan and what was going to happen to the point where once we got the leadership group we got, with so many young guys coming through, it is a good time to hand the baton over and put the focus elsewhere.
"After I was named captain (last year) we started talking about when and where and how and just start thinking about it basically.
"Scotty has spent all five years as my deputy. He knows all about leadership, he knows the role, he knows what is required and I am sure he is going to do a great job.''