The 32-year-old turned down a new contract at Prenton Park, and has signed a two-year deal for the Spireites.
McFarland beat off a whole host of clubs to secure the ex-Portsmouth and Coventry man's signature.
"We have worked really hard to sign Paul Hall despite keen interest from other clubs and we believe his quality will help strengthen the team for the new season." McFarland told the club's official website.