(THE SPORTS XCHANGE/REUTERS) - Manny Pacquiao confirmed on Wednesday (Aug 10) he will come out of retirement to fight World Boxing Organisation welterweight champion Jessie Vargas on Nov 5 in Las Vegas.

The 37-year-old Pacquiao, also a senator in the Philippines, issued a statement to announce his comeback opponent.

"Yes, the fight is on," Pacquiao said in the statement. "Boxing is my passion. I miss what I'd been doing inside the gym and atop the ring."

Pacquiao announced his retirement following an April 9 victory over Timothy Bradley Jr in their third fight so he could focus on his senate duties in the Philippines.

Pacquiao (58-6-2, 38 KOs), who has won world titles in eight weight divisions, was widely expected to return to the ring at some point.

Pacquiao, who was elected to the Philippines senate in May, said he will spend the entire training camp in his home country so he can also attend to his legislative work.

"Boxing is my main source of income. I can't rely on my salary as public official," Pacquiao said.

"I'm helping the family of my wife and my own family, as well. Many people also come to me to ask for help and I just couldn't ignore them."

The American 27-year-old Vargas is 27-1 with 10 knockouts.