Manny Pacquiao has declared his boxing career is over although the head of his promotional team moved to dispel retirement talk.

The 42-year-old southpaw lost to Yordenis Ugas last month, with many predicting that would end up being his last fight.

Pacquiao had on Sunday announced his intention to run for the Philippines presidency next year.

The former eight-weight world champion told Toni Talks that he is done with boxing.

"My boxing career is already over," Pacquiao said.

"It's done because I've been in boxing for a long time and my family says that it is enough."

However, Pacquiao's head of promotions Sean Gibbons moved to water down any retirement talk just yet.

"The Senator is a presidential candidate and has made no decision on his boxing career yet," Gibbons told Yahoo Sports.

"He will in the next few weeks make a final decision whether to have one more or retire."

Pacquiao had not fought competitively for more than two years prior to last month's WBA welterweight defeat to Ugas.

The Filipino has a 62-8-2 professional boxing record, with 39 wins by knockout.