The 36-year-old Filipino, returned to his country on Wednesday after his defeat to American Floyd Mayweather in their world welterweight super-fight on May 2.
"I will focus on healing my shoulder. After that, I will announce continuing my career or retirement," Pacquiao was quoted as saying by bbc.com on Tuesday.
"I'm not saying I am going to retire, but it's near. I'm already 36, turning 37 this December," he said.
Despite a unanimous points defeat in Las Vegas, Pacquiao, a six-weight world champion, received a warm welcome back to the Philippines by fans.
Pacquiao fought the contest with a shoulder injury and is the now subject of a Nevada law suit for failing to declare his injury prior to the bout. He underwent a shoulder surgery shortly after the fight.
He has expressed a desire to fight Mayweather in a rematch, but his wish has been turned down by the American who termed his opponent a "sore loser".
Pacquiao also said he has accepted the defeat against Mayweather but believes he won the fight by a slim margin.
"I reviewed the fight and kept score. I won by two points, but a decision has been made and we have to accept it," he added.
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