The 24-year-old departed for the Wolves in October after being starved of opportunities and exposure on the Shire, signing a two-year deal with the English club.
The Greek international has an option for the second half of his contract, with 2022 shaping as a critical campaign for Magoulias should he wish to make a comeback down under.
After being placed on the periphery of the Sharks' senior side across the past several seasons, Magoulias is looking to utilise his time in the UK as a catalyst in his career.
"I've had a bit of a frustrating time the last couple of years," he told Wide World of Sports.
"I was 18th man a lot and got a few chances but couldn't cement a regular place in the team.
"Then my managers had a few nibbles from NRL clubs for next season - the Tigers showed some interest and Canberra all but agreed before backflipping.
"Then the opportunity came up with Warrington and I thought it might be just what I need.
"They are a strong club in Super League and I've been very impressed with what I've seen and heard about them.
"I've signed for 12 months with a 12 month option and will give it my all."
Warrington managed a fourth-place finish this year and will open their account in 2022 against Leeds in February.
The Wolves were among several Super League sides showing interest in Magoulias this year, with the forward joining the likes of George Williams, Blake Austin, Jason Clark, and Gareth Widdop in signing with the northern club.