Stephen Hendry will play Matthew Stevens in the other semi-final after both secured easy wins.
BBC: Dott thrashed Ronnie O'Sullivan 5-0 in the previous round
Earlier Maguire had seen off seven-time world champion Stephen Hendry 4-2 without making a break of over 50.
He last reached a ranking final at the 1997 Welsh Open when he lost 9-2 to Stephen Hendry.
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"I thought Stephen Hendry's idea of moving it every year to different places was quite good, " said Holt.
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In the second semi-final, Stephen Hendry looked to be near his best as he beat Wales' Matthew Stevens 6-3.
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But seven-time world champion Stephen Hendry lost at the first hurdle, going down 5-4 to Flintshire's Ricky Walden .
Meanwhile Stephen Hendry, who is chasing a sixth UK crown, had less trouble overcoming Davis in his third-round clash.
Stephen Hendry, Steve Davis, John Parrott and Jimmy White have been honoured with MBEs previously, with Davis also receiving an OBE.
Only John Spencer (1975), Doug Mountjoy (1977), Terry Griffiths (1980) and Stephen Hendry (1989) have previously won the tournament on their debut.
Ronnie O'Sullivan will face either Ian McCulloch or Ricky Walden, while Stephen Hendry will find himself up against Robert Milkins or Dave Harold.
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Former world champions Ronnie O'Sullivan, Stephen Hendry, Steve Davis, John Parrott, Dennis Taylor, Mark Williams and John Higgins joined White among the mourners.
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Seven-time world champion Stephen Hendry, meanwhile, needed a clearance of 35 from the last red in the deciding frame to keep alive his hopes.
Michael Holt, meanwhile, survived a moment of madness before setting up a second round clash with former World and Welsh Open champion Stephen Hendry.
But seven-times world champion Stephen Hendry is threatened with an early exit after losing 3-0 to Matthew Stevens - his second defeat in three matches.
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Stevens now faces seven-times champion Stephen Hendry in the last eight.
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Dott's fellow Scot Stephen Hendry started well, beating Mark Selby 3-2.
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On Sunday, he beat Stephen Hendry 10-6 to win the UK Championship and in doing so became the ninth player to do the UK and world double.
World number two Stephen Hendry faces Finland's Robin Hull, Paul Hunter is pitted against Malta's Tony Drago and John Higgins opens his campaign against local boy Michael Judge.
Meanwhile, seven-times world champion Stephen Hendry said he would have liked to have seen the championship move around the country on an annual basis - similar to The Open golf format.
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The Northern Ireland Trophy runs from August 13 to 20 and will feature the world's top 32 players including Ronnie O'Sullivan, Stephen Hendry, Ken Doherty, John Higgins and world champion Graeme Dott.
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Steve Davis has been crowned champion a record six times, with the first of his wins in 1980 when he demolished Alex Higgins 16-6, while Stephen Hendry is not far behind with five UK titles.
He was unlucky not to clinch his first major title at the 1999 British Open in Plymouth, beating Marco Fu, Paul Hunter, Mark Williams, Stephen Hendry and Jimmy Michie before going down 9-7 to Fergal O'Brien in a tense final.
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