Rumours have been swirling for weeks now that McGregor's first fight back after his ban will be against the man nicknamed "Cowboy".
And Cerrone himself has delivered a tease that the fight could happen this year – with UFC 239 scheduled for July 6.
The 35-year-old Ohio fighter uploaded a photo of a bottle of Budweiser alongside a bottle of McGregor's very own Proper Twelve whiskey.
Cerrone is sponsored by the giant American beer brand.
But it could all be a ploy to thrash out the deal quicker after SunSport reported how UFC chief Dana White had denied claims it is a "done deal".
UFC commentator Joe Rogan announced during his podcast on Sunday that McGregor, 30, will face Cerrone, 35, next.
But when asked about this, White told TMZ: "Not true. It's not even close to being done."
McGregor is currently serving out a six-month suspension for his part in the brawl that followed his defeat to Khabib Nurmagomedov in October.
White has given him the green light to return to the UFC and he could return to the octagon this summer.
When speaking to MMAjunkie earlier this month, White admitted he would like to see McGregor face Cerrone.
The 49-year-old said: "I'd like to see Conor fight this summer, those two want to fight each other, they've both earned it.
"Cowboy's fought anybody we've ever put against him.
"We throw this young killer Hernandez at him, Cowboy's the underdog and he goes in and does it the way he did it, then Conor's fought everybody.
"If these two want to fight, I'm down."
The American challenger called the Irishman out after he defeated Alex Hernandez in January.
After the win, which moved him to a record of 34-11-0, he said: “I want top five. I even want Conor if he’ll agree to it.”
And McGregor duly accepted, replying via Twitter with: “For a fight like that Donald, I’ll fight you. Congratulations.”
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