Mayweather vs. Pacquiao -- MILLION DOLLAR BELT ... REVEALED!!

Here it is ... the $1 million emerald-studded WBC championship belt that Floyd Mayweather and Manny Pacquiao will be fighting for on May 2nd ... in addition to their $100-million + paychecks!

TMZ Sports broke the story ... the World Boxing Council commissioned the belt when the fight was announced .. and adorned it with 3,000 real miniature emeralds.

The belt was revealed at a WBC event in Mexico -- and will make its way to Vegas this week ... escorted by a private security team.