Marvin Hagler believes the showdown between Floyd Mayweather and Manny Pacquiao will eclipse his fight against Sugar Ray Leonard.

"Whether Pacquiao loses in the first round or whether he knocks out Mayweather in the first round, it's going to be the biggest fight in history," Hagler said this week.

Hagler was undisputed world middleweight champion for seven years until he fought Leonard at Caesar's Palace.

Mayweather, 38, has previously recalled watching the fight between Hagler and Leonard.

"I remember being a kid and saying there would never be a fight bigger than this," he said before he fought Oscar de la Hoya in 2007.

Speaking in Hong Kong this week, Hagler said the welterweight bout on May 2 would be the "biggest fight in history", regardless of who wins.

Reluctant to draw parallels, Hagler said both fighters would be focused only on the result. "Once you start getting yourself into the fight, it's not about the money, it's about the win."

Hagler said it was too early to call a favorite, despite Las Vegas bookmakers pegging Mayweather as having the upper hand. "Anything can happen from now until May," Hagler said.

"Mayweather is using his head, he's using his skills and strategy. Let's hope Pacquiao does not fall into his tricks."

Hagler said that if Pacquiao won, he would be "a worldwide figure, bigger than what he expected".

He was in Hong Kong with the Laureus Sports for Good Foundation, a group which provides coaching and education to young people in the most deprived environments around the world.

"To see the smile on the kids’ faces brings a smile to my face too," said Hagler, who has been involved with the foundation for over a decade.