Meanwhile, Duterte’s daughter remains the most popular prospect for next year's presidential election, an opinion poll showed on Wednesday, while her father slipped into second among contenders for the vice-presidency.

Pacquiao, a Philippine senator who has been dividing his time between politics and fighting, made the announcement in a 14-minute video posted on his official Facebook page.

"I just heard the final bell. Boxing is over," said an emotional Pacquiao, the only man to hold world titles in eight different divisions.

"I never thought this day would come as a I hang up my boxing gloves," said Pacquiao, as he thanked his fans all over the world.

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

Veteran promoter Bob Arum in 2010 said he was unmatched and rated him better than Muhammad Ali. "His left and right hand hit with equal power and that is what destroys his opponents," Arum told Reuters.

In August, the 42-year-old lost a WBA welterweight world title match against Cuban Yordenis Ugas.

Growing up in the south of the Philippines, Pacquiao's family was dirt-poor, prompting him to do odd jobs to survive. He stowed away on a boat to the capital Manila as a teenager, where he started competitive boxing.

Pacquiao was among the staunchest allies of Philippines President Rodrigo Duterte, backing the leader's bloody war on drugs and his bid to reintroduce the death penalty.

But their political ties soured after Pacquiao criticized Duterte's friendly relationship with China and corruption in the government. In July, he was ousted as president of the country's ruling political party.

Pacquiao started his political career with failed congressional run in 2007. He won a seat at the lower house of congress in 2010, representing the southern Sarangani province.

The two-term congressman was elected for a six-year term in the upper chamber in 2016.

 

Declining support

Sara Duterte-Carpio, who this month said she would not seek higher office, has topped all surveys on prospective candidates ahead of registration, which opens on Friday. Her father cannot run for a second term and will seek the vice presidency.

But other potential candidates cut into Duterte-Carpio's lead in the Pulse Asia survey of 2,400 people, held earlier this month, with her support dropping from 28 percent to 20 percent.

Boxer Manny Pacquiao, who announced his retirement from the sport on Wednesday to run for the presidency, rose one notch to fourth, with 12 percent support, up from 8 percent previously.

Ahead of Pacquiao with 15 percent was the son and namesake of late dictator Ferdinand Marcos, who has yet to confirm his plans, plus Manila mayor Francisco Domagoso, with 13 percent.

The same poll showed Senate speaker Vicente Sotto overtaking Duterte as the top contender to become vice president, which in the Philippines is a separate contest. Duterte dropped to 14 percent from 18 percent.

Sotto, a former actor and comedian, won 25 percent support, a big jump from his 10 percent in the previous poll.

Duterte's decision to seek the largely ceremonial position has been met with skepticism, with critics convinced he has ambitions to retain power, or remain in high office to stymie possible legal action over thousands of state killings during his notorious war on drugs.

Duterte said he wants to serve the public.

A separate survey released this week by Social Weather Stations showed 60 percent of 1,200 respondents believed his move violates the intention of the constitution, which has a one-term limit to prevent abuse of power.