Master P's throwing more shade at Kobe Bryant -- telling TMZ Sports he's old, he should retire ... and he's pretty confident he'd SMASH the Lakers superstar in a game of 1-on-1.
P was handing out turkeys to families in need in Watts when we asked how he felt about Kobe ... who's been struggling mightily this season.
"I think that father time caught up with him," P said ... while telling us the Mamba should hang up the sneaks for good.
And then there's this ... P -- who had 2 preseason stints with NBA teams back in the day -- told us he thinks he could ball Kobe up in a 1-on-1 game ... and he wasn't joking.
Tensions have been high with these two this year -- especially after P publicly blamed Kobe for not helping Lamar Odom get a new contract with the Lakers ... criticism that Kobe didn't take kindly to.
So, when's the game? Maybe April ... Lakers probably won't have anything going on around then.