Masvidal spoke about his impending return to Dana White's org this week after being away from it all since April 2023 -- and he told us he's itching to get back.

For now, no firm return date has been set ... but he said he's hoping to be on a card sometime either at the end of this year or the start of 2025.

As for his opponent ... the 39-year-old told us he'd love Chandler or Edwards.

"I think [the Chandler fight] would be a very fun fight, a very big fight," he said. "And then me and Leon fight, you know, we've always had our differences -- so why not settle them in the cage? That's the best way to do it. So, what's up?"

Chandler seems up for it, telling us in a statement Friday, "There is zero doubt that Chandler vs. Masvidal does massive numbers and brings the type of violence that UFC fans deserve. Nothing personal, just business, and we are both in the business of delivering for the fans."

If Edwards or Chandler doesn't pan out, though ... don't hold your breath for a Conor McGregor tilt -- Masvidal made it clear he doesn't believe Conor wants to fight again ... and he's only interested in guys who are ready to throw down ASAP.