Canelo Alvarez thinks the Floyd Mayweather comeback is HILARIOUS -- saying there's no way Floyd would ever consider a rematch because he's too focused on MMA guys.
The boxing superstar was leaving Matsuhisa sushi in Hollywood in great spirits when we asked how he felt about 42-year-old Floyd wanting TWO fights in 2020.
"He's not gonna fight with me," a smirking Canelo told us ... "He's gonna take on MMA fighters!"
CA's entourage added a little more commentary -- with a female friend saying Floyd "couldn't handle" a fight with Canelo.
His male pal was blunter, saying, "Canelo will kill him!"
For his part, Floyd is still working on nailing down his two opponents -- a boxer and an MMA fighter -- and we're told he's got his sites set on Manny Pacquiao.
Meanwhile, Canelo's coming off a violent knockout victory over Sergey Kovalev as he fights his way through his 11 fight, 5-year, $365 MILLION contract.
Unclear what's next for Canelo -- but he's said in the past he would LOVE a rematch with Floyd, who has the ONLY victory over Alvarez in his pro boxing career.
The two fought back in 2013 -- when Canelo was only 23 -- and he lost by majority decision. After the fight, Canelo said he simply couldn't catch Mayweather.
But, Canelo's a lot faster now ...