Snoop Dogg -- APOLOGIZES to Iggy Azalea ... T.I. Plays Peacemaker

Snoop Dogg has declared a truce with Iggy Azalea ... officially squashing the beef after just one phone convo with T.I.

Snoop just posted a video mea culpa where he says, "No more bad talk. I apologize. I won't do it again." He says the peace treaty was engineered by Iggy's manager ... T.I.

Snoop never mentions Iggy by name during the brief message -- but Iggy immediately accepted the apology on Twitter.

With the war of words so heated, you gotta wonder what T.I. said to cool things off so quickly. We spoke to Snoop and he would only say ... "Tip called me, it's over. Got a lot of love for cuz, so I let it go! Too much money on my mind to worry bout a biiiiiych."