Line a baking sheet with parchment paper or a silicone mat and place a wire rack on top.
Drain maraschino cherries, reserving 1/3 cup juice.
In a medium saucepan, combine the maraschino cherry juice with sugar. Cook over medium heat, stirring constantly, until the sugar is dissolved.
Add the cherries to the syrup and then bring the mixture to a boil. Reduce heat and cover. Simmer for between 45 to 55 minutes, stirring every 10 minutes, until the liquid reaches 325 degrees (soft ball stage.) At this point the cherries should be firm and slightly wrinkled.
Remove the cherries with a slotted spoon to the wire rack, making sure all of the cherries are separated.
Let them dry on the rack at room temperature for 24 hours and then store in an airtight container in the refrigerator.
Makes approximately 4 1/2 to 5 ounces or 3/4 cup. Recipe may be doubled.