Mayweather, 40, is undefeated in his boxing career and could go 50-0 if he beats the Irishman, 29.
The five-weight world champion will come out of retirement for the second time to face UFC champion McGregor.
He first hung up his gloves in 2008 after 39 fights and then again in 2015, after matching Rocky Marciano’s career record of 49 matches unbeaten.
McGregor, who has never boxed professionally, had previously challenged Mayweather to fight under mixed marital arts rules – before now agreeing to box him.
McGregor Mayweather date and time
The fight is scheduled for Saturday, August 26, in Las Vegas.
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Although given the time difference with the UK, it will start around 4am on the Sunday, August 27.
The T-Mobile Arena in Las Vegas will host the fight.
McGregor Mayweather odds
Bookies are sure Mayweather will win, making him the 2/7 favourite. Paddy Power have even paid out on a Mayweather win already.
McGregor, meanwhile, is available at a best-priced 11/4 with the draw available at 50/1.
That hasn’t stopped one punter straking £10,000 on McGregor beating Mayweather in Las Vegas this weekend.
At odds of 11/4, the online customer, from Merseyside, will turn £10k into £37.5k if ‘Notorious’ causes an upset in his professional boxing debut.
The Irishman remains the popular pick with punters in the build-up to the fight, with 10 bets being placed on the outsider to every bet taken on Mayweather. And as a result, the UFC star has seen his odds fall from 13/2 to 11/4 since the blockbuster bout was announced.
Alex Apati of Ladbrokes said: “The big bets are coming thick and fast, but while the majority have been staked on Mayweather up to this point, it’s McGregor who’s starting to attract serious interest in the build-up to the fight of the century.”
McGregor Mayweather tickets
Fight fans attending the much-hyped boxing match between Mayweather and McGregor will have a chance to rub shoulders with the stars in Las Vegas – but it won’t come cheap.
The least expensive ticket listed on reseller StubHub is going for an eye-watering $1675.
“Usually for these large events it’s comparable to a Super Bowl. There’s going to be a lot of stars at these events, especially in the high-priced ticket range, the ringside seats,” StubHub spokesman Cameron Papp said.
“This is a once-in-a-lifetime, bucket-list event, so the die-hard Mayweather and McGregor fans are usually going to find their way to the event.”
The fight has not yet sold out, with high face values and a lack of access seeming to have slowed down demand.
McGregor Mayweather prize money
The total figure depends more on the pay per view sales while ticket sales also need to be factored in.
If the PPV stays roughly in line with the Mayweather v Pacquaio fight, the fight purse is likely to be worth around £300m. Total revenues are expected to exceed £390m.
Mayweather has negotiated a bigger split but that hasn’t yet been confirmed, or revealed.
McGregor Mayweather weigh-in
McGregor came in 3lbs heavier than Mayweather at the weight-in in Las Vegas.
McGregor weighed in at 153lbs, with Mayweather at 149.5lbs.