McGregor lost to Dustin Poirier back in January, which was the Irishman's second loss in the lightweight division in-a-row.
His previous loss was his title fight with Khabib Nurmagomedov in 2018, with a win against Donald Cerrone in January 2020 the only fight in between.
However despite a poor record, with his previous victory before Cerrone coming in 2016, the Notorious was still ranked 15th in the UFC's pound-for-pound list.
Following Saturday's UFC 259 card, McGregor has now been replaced by newly crowned bantamweight champion Aljamain Sterling.
Sterling beat Petr Yan in one of UFC's three huge title fights on Saturday night, the only one that saw the title change hands, but it was in controversial circumstances.
The champion, who was ahead on two of the three cards, when he landed an illegal knee to his downed opponent.
'The Funk Master' was given time by the referee to recover but after consulting with the doctor the fight was ended by disqualification, with the title going to Sterling. Yan dropped two places to 12th.
Former bantamweight champ T.J Dillashaw, who recently served a ban for drugs use, claimed that Sterling 'acted' his way to the title, something the champion strongly refuted.
Despite the fact that McGregor was only just holding onto his place on the list anyway, and lord knows how he was there with two losses from his last three fights, he might still feel slightly aggrieved.
That's because his rival Khabib Nurmagomedov still tops the list, despite the Russian telling Dana White on several occasions he's retired and doesn't want to hold up the lightweight division.
McGregor remains sixth on the lightweight ranking list and there is talks of him fighting Poirier for a third time in the near future.
The other big movers on the list came from the night's main event, with Jan Blachowski's win over Israel Adesanya moving him up six spots to eighth on the list, although the UFC president was not happy with the scoring in that fight.
The loss for the middleweight champ, who moved up in weight to challenge for the light heavyweight title, saw him drop three places to sixth.
"Like always - Underdog!"- UFC on BT Sport (@btsportufc) March 7, 2021
Jan Blachowicz has been the underdog in four of his last five fights.
He's won them all. pic.twitter.com/hASVsrlaQp
Should White finally accept Khabib's retirement and take him off the rankings then Jon Jones would be number one, despite not holding a title or fighting since February last year.
'Bones' was the light heavyweight champion before giving up the belt last year and is now expected to move up to heavyweight to fight the winner of UFC 260's main event between champion Stipe Miocic and challenger Francis Ngannou.
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