McGregor, a former two-weight UFC champion, has not fought since he broke his leg in a TKO loss to Dustin Poirier in 2021. He had been due to face Michael Chandler at UFC 303 in June, but withdrew with an injured foot.
"The rumors of a bout with [Ilia Topuria] are false," McGregor said in a post on X on Tuesday.
"I am in preliminary agreements with the Ambani family to face Logan Paul in a boxing exhibition in India. I have agreed. I will then seek my return to the Octagon."
Paul, who is also a YouTuber, has appeared in four exhibition boxing fights, including a draw and a defeat to KSI, a draw with Floyd Mayweather and a win against MMA fighter Dillon Danis.
However, he has become more known for his time in WWE, where he won the U.S. Championship in November 2023.
McGregor has appeared in a professional boxing bout only once -- a 2017 fight against Mayweather. which ended in a 10th-round TKO defeat.
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