World boxing icon Manny Pacquiao announced his retirement from what he called the “greatest sport in the world” on Wednesday to focus on a run for the Philippines presidency, the biggest fight of his career.

In a 14-minute video posted on Facebook and Twitter, “Pacman”, as he is known in the sport, thanked fans worldwide before bringing down the curtains on a 26-year boxing career that earned him world titles in eight different divisions, which to this day remains unmatched.

“I just heard the final bell. Boxing is over,” said the 42-year-old Pacquiao, now a Philippines senator, drawing a flood of reactions from fans ranging from disbelief to gratitude.

Pacquiao, whose fast footwork and blistering speed of punches made him one of the top offensive fighters in the sport's history, said he was at peace with his decision.

“As I hang up my boxing gloves, I would like to thank the whole world for supporting Manny Pacquiao,” he said, fighting back tears.

Pacquiao came from impoverished beginnings as a ship stowaway who started fighting on the streets as a boy with prizes of $2 a fight.

In August, the father of five lost a WBA welterweight world title match against Cuban Yordenis Ugas, leaving his fight record at 62 wins, including 39 knockouts, eight losses and two draws.