Here's video of Snoop going CRAZY for fighter Sean O'Malley on "Dana White's Tuesday Night Contender Series" ... after O'Malley 1-punch KOs his opponent.

Seriously ... Snoop absolutely loses his mind -- and it's amazing. His line right before the KO was epic too.

Dana rewarded S.O. with a UFC contract, but O'Malley's real prize came after the show ... when Snoop hooked him up with what looks like a victory blunt!!

FYI, this is only the 2nd episode of Dana's new Fight Pass series -- which features "Snoopcast" every week.

Can't wait for episode 3.