Diaz caused a stunning upset against McGregor after he choked him out with a rear-naked submission in the second round of their UFC 196 mega-clash in 2016.
However, McGregor bounced back months later to avenge his defeat and secured a split-decision victory over Diaz at UFC 202 in Las Vegas.
Diaz, 36, has lost his last two outings in the octagon against Jorge Masvidal and Leon Edwards and has only one fight remaining on his current UFC contract.
McGregor has suffered back-to-back defeats to Dustin Poirier and suffered a broken tibia injury at UFC 264, with the Irishman recovering from his injury.
The 33-year-old UFC superstar has been tipped to face Poirier in a trilogy fight as part of his MMA comeback.
And McGregor has even called out UFC lightweight champ Charles Oliveira, with the 32-year-old Brazilian MMA fighter responding to his challenge on social media.
Speaking to ESPN, White revealed that UFC want to offer Diaz a new contract and left the door open for a trilogy fight involving McGregor.
“There's no difference whatsoever [in matchmaking Diaz],” he said.
“Every time we put on a fight, first and foremost it needs to be a fight the fans want to see. The other thing, depending how much they make, you want a big fight.
“A good fight. A fight that matters. A fight that's going to create some hype, energy -- and sell. But that's always the same, if you have 10 fights or no fights [left on your contract].
“If we didn't want to extend Nate Diaz, we'd wait until the deal was up and that's it. We've had guys fight their contracts out, and Nate might be one of them.
“Our heavyweight champion is about to fight his contract out. This is a tricky thing, because I don't want to sit here and act like Nate Diaz turned this fight down or turned that fight down.
“I don't want to get into all that. I say this to you guys all the time: I'm in the fight business. By contract, I have to offer these guys three fights per year, and they can say yes or no.
“We're working it out. The trilogy with McGregor is always there. That fight could happen. We could make that fight.”
White recently shot down the idea of McGregor challenging Oliveira for the lightweight title next.
McGregor has impressed fans on social media with his incredible physique ahead of his UFC comeback, with the Notorious aiming for his return in the middle of 2022.
Featured Image Credit: ESPN/Conor McGregor's Instagram
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