McGregor is currently preparing to fight Mayweather in an event less than a week away on 26 August as an MMA challenger will take on a boxer in a boxing match for the first time.
But Masvidal (32-12 record in MMA) – who is known for possessing a higher level of boxing technique in comparison to most UFC fighters today – believes he has a better chance than the Irishman, claiming he could "definitely" go 12 rounds with "Money".
"I think so," Masvidal said when asked if he has a better shot than McGregor, as quoted on MMAJunkie. "I'd be able to box-box. I might not have the greatest power in the world, but I can box, like hit and hit.
"That's something I can do very well. I could definitely go 12 (rounds) with Mayweather."
While that may be up for debate, in the meantime, "Gamebred" has his next fight confirmed as he will take on Stephen "Wonderboy" Thompson (13-2-1 record in MMA) at UFC 217 in Madison Square Garden, New York on 4 November.
Both fighters are coming off a loss. However, the winner of the fight should be in contention for a shot at Tyron Woodley's welterweight title.
Although the welterweight bout was in the pipeline for two months, Masvidal did have doubts on whether Thompson would sign on the dotted line.
"It's no diss to Thompson, but this has happened previous to the (Donald Cerrone) bout – it happened like four times where I had a signed a bout agreement with a certain fighter, and that fight didn't materialise," Masvidal said. "So I don't believe it until I'm in the cage."
As for his last loss to Demian Maia in a controversial split decision at UFC 211, Masvidal claims he and the Brazilian will have a rematch soon.
"I wasn't 100 percent myself that day," Masvidal explained. "I was 100 percent injury-free, but just in certain movements I did, I could have done them better. That's the only thing I'm regretting.
"We're going to have a rematch, me and Maia, one way or the other."