Dominick Reyes Deserves Rematch Against Jon Jones, Says Dana White

Seems a Dominick Reyes vs. Jon Jones rematch is on the horizon -- with UFC honcho Dana White saying DR earned a second crack at Jon after that legendary battle in Feb.

Oh, and another clue a rematch is in the works ... Dana had lunch with Dom's manager Tiki Ghosn in Bev Hills and yeah, they were definitely talking business!

Of course, Jon emerged victorious in his UFC 247 fight with Reyes -- though a bunch of fans and fight experts think the judges got it all wrong by giving Jones the unanimous decision.

So, what's the best way to settle things once and for all? LET 'EM RUN IT BACK!

Dana seems to be on board ... telling us, "I think [Reyes deserves a rematch]. You'd be crazy not to think he deserves a rematch."

Ghosn added, "I think there's a very good chance of that!"

As for Jones, he's got options -- but he seems to be the most interested in a fight with light heavyweight contender Jan Blachowicz.

There's more with Dana ... we also talked to the UFC boss about everything from Conor McGregor's next fight and a possible Khabib vs. Floyd Mayweather boxing match.