In this study we have investigated the magnetic moments of octet baryons (proton) by examining the direct impact of external magnetic fields on their constituent quarks. Strong external magnetic fields can influence chiral symmetry breaking or its restoration, leading to changes in effective quark masses. We have calculated the effective masses of constituent quarks and the octet baryons in the nuclear matter within the chiral SU(3) quark mean field model and have used these as the input in SU(4) constituent chiral quark model to compute the effective magnetic moments of octet baryons. Unlike the approaches that treat the baryons as single entity, the current approach treats quarks as the degrees of freedom hence, we have calculated and incorporated the individual contributions coming from valence quarks, quark sea and orbital angular momentum of quark sea towards the total magnetic moment of baryons in the varying values of external magnetic fields.