The 32-year-old former Spain international has struggled for form and game-time since returning to the Madrid outfit for a second stint in 2011.
Having spent the majority of last season on loan in Malaysia, the striker was strongly expected to leave Getafe this summer.
Paraguayan outfit Cerro Porteno have now been confirmed by the club as having agreed a deal, and are believed to have signed the player now to a one-year contract.
“It was an honour to wear these colours, I have always been made to feel at home,” Guiza wrote in a farewell statement to Getafe supporters this week, published on the club’s website.
“I like the idea of a change of scenery and to play in South America for a team that has a lot of fans in Paraguay.”
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