More than 20 firefighters were called to tackle the blaze, which is believed to have started accidentally, at a converted barn next to the rocker's house in MACclesfield.
Nobody was injured in the fire, but much of Squire's art equipment was destroyed.
Vivienne Gaskin, Squire's agent, says, "Nobody was injured, which is the main thing. He only kept very recent work in the studio so there were two or three recent pieces (lost) but most had already been sold or were kept in his house so it was mainly art equipment that was destroyed."
Squire created the Jackson Pollock-style artwork for the Stone Roses' 1989 eponymous debut album and he turned to the profession full-time in 2004 after taking a break from music.
His works have been exhibited at galleries all over the world.