Champagne Papi's latest addition is dubbed the "Crown Jewel of Toronto" by celeb jeweler Alex Moss, the creator behind Drake's new piece.

As you see, Drake ordered a huge diamond chain with an even bigger iced-out pendant ... featuring logos for the NHL's Toronto Maple Leafs, the NBA's Toronto Raptors and MLB's Toronto Blue Jays.

Toronto's famed CN Tower is also featured prominently ... with the Raptors and Blue Jays mascots surrounding the famous building from the city skyline.

Drake's dangling some pretty big carrots with all these carats ... he says any Toronto team that wins a championship gets to hang on to the bling for the entire offseason ... kind of like hockey's Stanley Cup trophy tradition.

The Blue Jays got bounced from postseason baseball last week without winning a game, but there's hope for the Maple Leafs and Raptors ... the NHL and NBA seasons are just getting started.