A properly designed practice routine can really jump-start your playing. It can boost your technique and theory knowledge/application skills. It can also be fun and will not let you die of boredom.
First of all, you need to estimate how much time you'll be able to devote to your guitar playing daily. Be realistic but also be ready to make some sacrifices - you really should practice everyday! I'd say it should be at least an hour if you want to make some decent progress (if you want to become a guitar god one day you'll need a lot more than that, though). Now, depending on your goals, divide it into segments - think what is the most important to you as a guitar player. Be specific - is it your left or right hand technique (or both)? Is it theory, improvisation or composition?
Depending on your preferences an hour long practice session might look like this:
1. Warm-up, 5 minutes. Perform warm-up exercises of your choice.
2. Left hand technique, 10 minutes. Work on your legato skills exclusively.
3. Right hand technique, 10 minutes. Perform right hand exercises.
4. Left & right hand synchronisation, 10 minutes
5. Theory, 10 minutes. Learn and practice scales or chords.
6. Jam, 15 minutes. Improvise over a backing track or a tune you like, try to incorporate the techniques and theory you've just learnt.
You could (and should!) get even deeper than that. For example you could split the left hand technique segment into two five minute bits and practice trills in the first one and legato runs in the second one.
If your current approach to guitar practice is not a very organised one this might seem like a pretty tight practice regime. Give it a try, stick with it and soon you'll be amazed by the results!
