The Stockton native fought this Irishman twice this year before McGregor clinched his second title in Madsion Square Garden last weekend
Nate Diaz watched on from a private box as Conor McGregor made history last weekend at Madison Square Garden in front of a record gate.
McGregor smashed a number of UFC records and wrote himself into the history books by becoming the first fighter in UFC history to hold two belts in two different weight divisions concurrently.
The dual lightweight and featherweight champion says he will now wait and assess his options before returning to the Octagon, but will likely have to surrender one of his titles.
Among those in the queue to fight the Irishman is interim featherweight champion Jose Aldo and lightweight contenders Tony Ferguson and Khabib Nurmagomedov.
Speaking to Ariel Helwani, however, McGregor's coach John Kavanagh commented that he would like to see McGregor face Nate Diaz for a trilogy fight for the 155lbs belt.
The Stockton southpaw handed McGregor his only UFC defeat in March at UFC 196 via a second round submission, but he feels like he is being frozen out of the company.
"The UFC, they didn't even want to give me tickets to this fight," he told ESPN. "I think they wanted to just put this picture of him with the belts and it's the greatest thing that ever happened. They want to kind of like keep me out of the mix and hide me out from the whole thing.
"It might have been in his contract, 'don't let Nate Diaz in here'. I was up in the stands in the seat in the club box. After the fight, everybody's turning and looking at me. It's not my call. These guys are hiding me out up here. I think they gave Nick Jonas my seat."
Diaz handed McGregor the most difficult seven rounds of his UFC career. Image: Isaac Brekken AP/Press Association Images
McGregor had his moment in the sun as he held aloft the two belts and Diaz says that the fight itself was more like a procession for the Irishman.
"It's a little bit unofficial, it's handed over. Good timing for him and he did everything right and they handed it right to him. It was funny how I got left out the picture though. He went through the fight like I expected he would, especially against that guy.
"I thought the fight would go exactly how it went. I figured that. Then as soon as the fight's over, I see like 100 people just turned around and staring at me like what do you want me to do?"
Of the possibility of a third fight against McGregor, Diaz said: "The UFC knows that's a bad idea for him... Congratulations to Conor, he did a great job, got the two belts.
"Me and him know what happened the last couple of fights. That greatest of all time stuff, that just needs to come to an end cause I don't remember any of the greatest of all time getting worked over like the last two fights. So not to sit here and bash, but that's how I feel about the whole situation."