Oddsmakers at the Westgate Las Vegas Superbook immediately made Mayweather a 2-1 favorite.
Mayweather defeated Pacquiao in May 2015 in a massively hyped fight that was largely panned by most boxing fans. The bout delivered a record 4.6 million pay-per-view buys, and Pacquiao blamed an injured shoulder for landing only 81 punches in the fight.
Mayweather, who has won all 50 of his fights, last fought a year ago when he stopped Conor McGregor, the UFC star who was in his first professional boxing match. The 41-year-old Mayweather reportedly made more than $200 million for that fight, on top of a reported $300 million for his win over Pacquiao.
Pacquiao, the Filipino star who will be 40 in December, lost to unheralded Jeff Horn last year before rebounding with a win over Lucas Matthysse in Malaysia last month.
Representatives for the two fighters could not immediately be reached for comment.