Philippine boxing icon Manny Pacquiao announced he is officially retiring from boxing after a legendary 26-year career.

Pacquiao, 42, made the announcement Tuesday night on Facebook and Twitter.

“To the greatest fans and the greatest sport in the world, thank you!” Pacquiao wrote. “This is the hardest decision I’ve ever made, but I’m at peace with it.”

Pacquiao encouraged fans to chase their dreams and work hard. He ended with: “Good bye, boxing.”

Pacquiao, also a Senator from the Philippines, announced Sunday he will run for president in the Philippines, saying that the Filipino people have been waiting for a change of government.

“I am a fighter, and I will always be a fighter inside and outside the ring,” Pacquiao, 42, said in his speech accepting the nomination of the PDP-Laban party.

In this photo provided by the Manny Pacquiao MediaComms, Senator Manny Pacquiao, left, raises his hands during a national convention of his PDP-Laban party in Quezon city, Philippines on Sunday Sept. 19, 2021. Philippine boxing icon and senator Manny Pacquiao says he will run for president in the 2022 elections. (Manny Pacquiao MediaComms via AP)

“We need government to serve our people with integrity, compassion and transparency,” he added.

Pacquiao is the president of the PDP-Laban faction led by him and Sen. Aquilino “Koko” Pimentel III.

To critics who question his qualifications, the famous boxer has said his experience of personal hardships will better equip him to understand people’s suffering — and fight poverty and corruption.

“In my whole life, I have not backed down on any fight,” Pacquiao said.

Pacquiao retires as the only eight-division world champion in the history of boxing and has won twelve major world titles. He had a record of 62-8-2, including 39 wins by knockout.

The Associated Press contributed to this report