The boxing greats will fight at the Sphere in Las Vegas on September 19, with the professional bout being broadcast live on Netflix.

It will be the first time that Mayweather, 49, has fought professionally since his victory over MMA star Conor McGregor back in 2017.

Meanwhile, Pacquiao, 47, retired from the ring in 2021 to concentrate on his political career in his homeland of the Philippines but returned to the sport last July with a draw against former WBC welterweight champion Mario Barrios.

The pair first fought in 2015 in a clash that was dubbed the 'Fight of the Century' and remains the most lucrative bout in the history of the sport.

Mayweather triumphed via unanimous decision in the Las Vegas bout to preserve his perfect record - which now stands at 50-0.

It has not yet been revealed over how many rounds or at what weight class the rematch will be contested at.

Pacquiao, a world champion in eight weight classes, said: "Floyd and I gave the world what remains the biggest fight in boxing history.

"The fans have waited long enough. They deserve this rematch.

"I want Floyd to live with the one loss on his professional record and always remember who gave it to him."

Mayweather said: "I already fought and beat Manny once. This time will be the same result."

The American revealed last week that he would be coming out of retirement for a fourth time as he is due to face fellow boxing icon Mike Tyson in an exhibition bout this spring.

Mayweather said: "I still have what it takes to set more records in the sport of boxing.

"From my upcoming Mike Tyson event to my next professional fight afterwards - no one will generate a bigger gate, have a larger global broadcast audience and generate more money with each event - than my events."