Pac-Man, 46, had previously returned to boxing in July to battle WBC welterweight champion Mario Barrios, 30, and Pacquiao has now revealed he is planning to get back in the ring once more to fight Rolly, 29.
Speaking with Filipino media, he said of the bout: “We are negotating and finalising.”
Although Pacquiao and Barrios had initially agreed to a rematch, Pac-Man’s advisor Sean Gibbons later argued a bout with Rolly would be a much better fight.
He told BoxingScene: “I don’t see why Barrios again. There’s Rolly Romero, [Gervonta] ‘Tank’ Davis. Why do it again? Mario Barrios doesn’t draw anything and brings nothing to the table but that belt.
“Rolly Romero would be an unbelievably fun fight and one hell of a promotion.”
Gibbons then added of a fight with Romero: “A Hall of Famer on my resume, who wouldn’t want that?
“That’s the easiest way to get into the Hall of Fame, right?”
Pacquiao is said to want to fight Rolly in January or February 2026 after turning 47 in December.
Pacquiao had initially retired from boxing in 2021 after losing to Yordenis Ugas, 39, though returned four years later to face Barrios.
In his match with Barrios, Pacquiao put on an excellent show, though was denied victory - with the bout ending in a majority draw and allowing El Azteca to retain his welterweight crown.
Immediately after the match, Pacquiao said he “thought [he] won the fight”.
He said: “It was a close fight. My opponent was very tough. It was a wonderful fight.”
Barrios praised his opponent and said Pacquiao’s “stamina was crazy”.
He added: “He's still strong as hell and his timing is real. He's still a very awkward fighter to try to figure out.”
Pacquiao - who previously served in the Senate in the Philippines and ran for president in 2022 - explained he had just two months’ worth of training for the fight, and was determined to work harder for his next bout.
He said: “I only have two months' training. What I need to do is continue my training. In a championship fight like this I should train four months, three months and a half.
“But because of the election in the Philippines, I start late for my training, but it's OK. I love the Filipino people and I love to give honour to my country.”
