He said the furore over the remarks had "cut me to the core", and he accepted he had made a serious error.
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"When I make a blue, I will come out and cop it."
McGuire told a media conference he had called Goodes on Wednesday morning to apologise for the comments, and acknowledged that the dual Brownlow medallist had been "really upset", but had accepted his apology.
The referencing of Goodes and King Kong came after the Swans star was called an 'ape' by a 13-year-old Collingwood supporter at during last Friday night's MCG clash.
Players and officials respond to McGuire's on-air gaffe
McGuire spoke to Goodes in the rooms after the match and apologised for the girl's action.
McGuire denied that his comment on Triple M breakfast radio was racist, and insisted it had been the opposite of what he had intended to say.
"I will be eternally disappointed at what happened," he said, adding that racial equality was "everything I believe in in life".
"I did the wrong thing, not intentionally, but nevertheless it caused hurt."
McGuire said he had also called Federal Sports Minister Kate Lundy, AFL CEO Andrew Demetriou and Swans chairman Richard Colless to explain his comments.
He told the media that he had been tired on radio and had "zoned out", but accepted that it was no excuse for a professional broadcaster.
He said he would be 'ashamed' if people thought he was hiding innate racism, and insisted that fighting racism had been a hallmark of his presidency of the Magpies.
McGuire rejected calls for him to undergo education in racial sensitivity, saying he did not need to be taught principles he lived on a daily basis and that all his life he had fought for racial quality.
"Every part of my being is about equality."
