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"Today, I am announcing my retirement."

After a quarter of a century in the ring - Manny Pacquiao says he's walking away from boxing.

The eight-division world champion made the announcement on Facebook, on Wednesday.

"As I hang up my boxing gloves, I would like to thank the whole world, especially the Filipino people for supporting Manny Pacquiao. Goodbye boxing."

The 42-year-old Pacquiao divides his time between politics and fighting and is planning to run for president of the Philippines in 2022.

Known for his fast footwork and blistering punches, he's widely regarded as one of the top offensive fighters in the history of the sport.

Pacquiao grew up in poverty in southern Philippines.

He stowed away on a boat to the capital Manila, and started competitive boxing as a teenager.

In the world of poltiics, Pacquiao has already served as both congressman and senator, winning elections with his appeal as one of boxing's all-time greats, and his rags-to-riches life story.

But his commitment to public service has also been questioned, with his poor attendance in congress and lengthy disappearances as senator while training for big-money fights abroad.

In July, Pacquiao was ousted as president of the country's ruling political party - the PDP-Laban.

Having been one of Philippines President Rodrigo Duterte's staunchest allies, he's now an outspoken critic of the incumbent leader.

"We need progress."

Pacquiao's campaign rails against government corruption, and what he called Duterte's cosy relationship with China.