Favre told us he had talked with Aaron Rodgers about that -- and insists the QB didn't have a problem with it.

(Remember, Favre wasn't exactly stoked when the Packers drafted Rodgers back in 2005. They've since become friends).

Fast-forward to GB selecting Utah State QB Jordan Love with the 26th overall pick ... and our convo with Favre just got VERY interesting.

TMZ Sports: "What would you tell Aaron if it does happen, if they do draft a quarterback?"

Favre: "You gotta just keep doing what you’re doing. And, Aaron and I watched a lot of extra film together, I had no problems giving him any insight that he asked for if I could, and I think Aaron will do that too.

"Look, no one’s going to replace Aaron unless Aaron chooses to be replaced. There’s no worry for him that he’s going to be ousted. He’s too good of a player."

"It’s funny because Aaron and I were talking about it last year, how he gets how I was when he came in. Because now he’s at that age that I was when he came in, and so it’s getting about time that you start looking at drafting a guy or picking someone up in free agency."

"Not that we think Aaron is at the end of his road, I think he’s got many good years barring injury ahead of him. But, you do have to start grooming the next guy.  And, Aaron gets it."

"You know, I was never upset about it, I used to think every year when they didn’t draft a quarterback early, I thought ‘Well dodged another one.’"

"And, at 37 I realized when they drafted Aaron that that was kind of reality setting in. Not that I thought I was going to be replaced right away, but that it's slowly transitioning out with the old, and in with the new."