Pacquiao accepted his nomination from the PDP-Laban party during its national convention on Sunday. He stated that the Filipino people had been waiting for a change in government.
Pacquiao, 42 years old, stated in his speech that he is a fighter and will continue to be one.
He said, "We need government so that we can serve our people with integrity and compassion."
Pacquiao is president of the PDPLaban faction, which he and Sen. Aquilino Pimentel III lead.
An alternative faction of the same party nominated President Rodrigo Duterte as its vice presidential candidate and Sen. Bong Go, Duterte's former adviser, to be its presidential nominee.
Duterte led a violent campaign against illegal drugs and declared last week that he would prefer to "die first" than face an international tribunal. This was the day after the International Criminal Court announced that it would investigate allegations of crimes against humanity in connection with the crackdown which has claimed the lives of thousands.
Pacquiao accused Durterte's administration, his former ally of making corruption worse for the Philippines.
Critics have questioned his qualifications. The boxer said that his personal hardships helped him better understand the suffering of others -- and to fight corruption and poverty.
Pacquiao stated, "I have never backed down from any fight in my entire life."
He told politicians that he held responsible for corruption to "remain in prison together soon."
A rival party faction that supported Duterte had earlier stated it would petition the Commission on Elections for Pacquiao's and his associates to be declared illegitimate officers in the ruling party.