A fight between the pair has been on the cards ever since Malignaggi left McGregor’s training camp for his August boxing match with Floyd Mayweather Jr.
Earlier this month, the former WBA welterweight champion revealed that his advisor, Al Haymon, has contacted the UFC brass to discuss the possibility of booking him in a fight with the UFC's poster boy.
“I know Al Haymon's talking to Dana White. If they want the fight, they'll make it," Malignaggi told FightHype.
"I don't need to do all of that because Al Haymon makes anything he wants to happen, happen. The only way it doesn't happen if this guy doesn't have any balls.
"This fight will pay him more, this fight will get him more exposure - this fight is a bigger fight than anything else he has. There's no more Mayweather fight, this is the biggest fight there is."
Given the bad blood between McGregor and Malignaggi, there is a demand for the duo to settle their differences in the squared circle.
UFC president Dana White disagrees with that notion and voiced his opinion on the matter during an appearance on the Real Quick With Mike Swick Podcast.
“Do you think people really want to see Conor versus Paulie Malignaggi?” White asked. "People want to see Conor fight in MMA, man.
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“That’s what they want to see. The Mayweather thing was a one-off f**king crazy deal.
This is where he belongs, this is the sport he’s in, this is the sports he excels in an he’s the world champion. This is where he needs to be.”
McGregor, 29, recently challenged Malignaggi to meet him inside the Octagon.
In the eyes of 'The Magic Man', McGregor's MMA challenge is proof of what really happened in their sparring sessions.
“I think, at the end of the day, if you use your brain, that also exposes him for what really happened in sparring. Because let’s face it, in boxing, you’re going to keep more money,” Malignaggi told Starsport.
“You have the Ali Act in the United States that’s going to force you to keep the lion share of the money you make in a fight. While in MMA, it’s a relatively new sport in the US, they do not have the Ali Act in place here in the United States. So you’re not going to keep the majority of your money.
“So boxing, automatically, will make him more money and will gross him more money. Then it will also him net him more because he’ll take a percentage of that money. Now if you make a nice gross in a boxing match, you can net a higher percentage of that money.
“So you’ll always make more money in boxing if the opponent draws enough.”