McGregor is one of the best Mixed Martial Arts (MMA) fighters in the world, but will be making his debut in the boxing ring against Mayweather, who is the best pound-for-pound fighter of the modern era and has a perfect record of 49 wins and no defeats.
Many boxing aficionados, like legendary fighter and promoter Oscar de la Hoya, have dismissed the fight as a "circus," but the bout at the T-Mobile Arena is expected to be a sellout with a huge pay-per-view TV audience.
When the Mayweather-McGregor fight was announced in June, it was criticized by former world super middleweight champion Richie Woodhall, who said he would much rather watch Gennady "GGG" Golovkin's contest with Saul "Canelo" Alvarez in September.
"Golovkin against Alvarez will be the fight of the year for me. That is going to be a great fight, not like this circus with Mayweather and McGregor," Woodhall told Sputnik.
The Irishman has been goading Mayweather in pre-fight publicity shows around the world.
But Tyson, who became the youngest world heavyweight champion in history in 1986, said McGregor does not stand a chance.
"McGregor is going to get killed boxing. Boxing? I got mad because I thought they were going to use MMA rules against boxing because that's what it's all about: Can the boxer beat the MMA guy?" said Tyson during a Pardon My Take podcast.
"McConor put his dumb a** in a position where he's going to get knocked out because [Mayweather has] been doing this all his life since he was a baby," said Tyson, 51, who himself retired in 2005.
McGregor, at 29, is 11 years younger than Mayweather, who has been tempted out of retirement by a US$100 million payday.
But Mayweather is the hot favorite with the bookmakers, and Tyson said McGregor had no chance.
"He can't kick and grab and stuff, so he won't stand much of a chance," he said, referring to the Queensberry Rules, which outlaw many of the moves allowed in MMA.
Mayweather's nickname is "Money," and he has made it clear he is only interested in just that.
When boxing historians suggested he might want to break ring legend Rocky Marciano's record, he ignored them.
Marciano retired undefeated in 1955, with 49 wins under his belt, and if Mayweather wins, he would go one better than the "Brockton Blockbuster."
But Mayweather has no interest in boxing history and has repeatedly said he is only interested in the bottom line — cold, hard cash.
Pardon My Take podcast host Michael Phelps said there was a danger of an extremely boring fight where Mayweather just uses his defensive skills to negate McGregor and win on points.
"I'm worried that it's going to be a classic Mayweather fight, and it's going to be all defense. He won't get hit cleanly and then you watch 12 rounds and you're left disappointed. Mayweather is going to be a lot richer but everyone else is going to say, why did I spend 100 dollars on that?" Phelps said.