The pair previously fought in May 2015 and after seemingly dodging each other for over a decade, it was Mayweather who took the honours, with it later emerging that Pacquiao had been suffering from a shoulder injury in the build-up.
Both men have retired since their initial bout but 'Pac-Man' returned earlier this month to take the WBO welterweight title off Jessie Vargas.
With Pacquiao being given special dispensation from the Filipino parliament to continue boxing alongside his political career, rumours have increased in recent days that he could get a second crack at the unbeaten American.
The 37-year-old has now admitted he would be interested although he says it is too early to start talking, especially with Mayweather still officially retired.
Pacquiao said: "If he comes back into boxing there is a possibility, but right now we are not talking or discussing about that.
"Actually, we are not talking about or discussing my next fight because I am so busy working in the office as a senator. That's my focus right now."