Jake Paul Cops $7 Million Watch, Diamond Ear Covers Ahead of Mike Tyson Fight

Jake Paul is keeping his ears protected ahead of his fight against Mike Tyson -- TMZ Sports has learned El Gallo just received some iced-out coverings to make sure his opponent doesn't try to chomp 'em off!!

The unique drip was part of the YouTuber-turned-global boxing star's latest haul ahead of Friday's huge event at AT&T Stadium ... which also included a $7 MILLION Jacob & Co. watch!!

Paul having the ear coverings is a clear jab at Iron Mike's most infamous in-ring moment -- when he bit off a piece of Evander Holyfield's ear in 1997.

We're told the covers are from VOBARA ... and they cost $100k each!!

As for the time piece, it's loaded with emerald and baguette-cut white diamonds, and a one-minute tourbillon.

The price tag is staggering ... but like Jake said as he tried on the new jewelry, he'll have no problem writing the check after Netflix dropped a bag to host the boxing match on its platform.

Paul deserves to treat himself after getting to this point in his boxing career ... as even Tyson admitted on "TMZ Live" this week it's the "biggest fight in the history of life."