Three-time world boxing champion Jeff Fenech is believed to be preparing for a comeback.

Fenech, who last fought 12 years ago, was finalising a deal with Thai Samart Payakarun with the Australian hoping to earn $1 million for the bout.

News Limited reported the 43-year-old would fight in Bangkok in a bout pencilled in for mid-June.

Fenech beat Payakarun in Sydney 20 years ago.

Fenech, who won titles in three weight divisions, would not confirm the fight but Channel Nine's A Current Affair program had been trumpeting an exclusive story about a sporting comeback to be aired on Wednesday.

The boxer, known as Marrickville Mauler, compiled a record of 28 wins, three losses and one draw during a stellar career.

He drew a controversial bout against Azumah Nelson as he attempted to claim a fourth title and was subsequently knocked out in the rematch before eventually retiring in 1996.

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