McGregor, 30, was floored by an overhand right of Nurmagomedov, 30 in round two of their UFC 229 lightweight title fight.
Just two rounds later Nurmagomedov would submit McGregor with a neck-crank as he sailed to 27-0, while The Notorious was beaten for the second time in the Octagon.
Woodley, 36, who defeated Englishman Darren Till one month prior to UFC 229, told Fox Sports he could KO McGregor – having watched him be floored by Nurmagomedov.
He said: “You know, Khabib is dope, and he was undefeated. When it comes down to overall martial arts and being able to be a great striker, and power, and wrestling, and defense, and striking, I think Khabib is dope for his pressure and his wrestling.
“But his striking is not the greatest in his division, and he was able to knock Conor down. So if Khabib could knock you down, I think I might be able to knock you out.”
Woodley has reigned at the welterweight division since July 2016 when he KO’d Robbie Lawler in one round at UFC 201.
McGregor became the first fighter in UFC history to hold titles at two weights simultaneously as he reigned as featherweight and lightweight champion.
The Irishman has twice fought at welterweight when he first stepped up to 170lbs to fight Nate Diaz on short notice at UFC 196.
Diaz submitted McGregor in round two – however, the Irishman would avenge te defeat five months later at UFC 202 as he won his first fight at welterweight.
McGregor has since campaigned at lightweight despite expressing his desire to claim a title in a third weight.
Before McGregor captured the 155lbs title against Eddie Alvarez at UFC 205 The Notorious had a confrontation with Woodley with the two later exchanging words on Twitter.
Woodley tweeted: “I said what's up then he tried to flex. Quickly he realized it was a NO FLEX ZONE – pretty much made him say what's up.
“Some of us are really about that that life! The quiet ones are the ones really from the slums. Don't make me go back.”
McGregor replied with: “Twitter b**** you’ll do nothing.”
The Notorious was reportedly lined up to face Rafael dos Anjos in May for the interim welterweight title.
However, after McGregor infamous bus attack in New York in April the fight was shelved – with the Irishman instead fighting Nurmagomedov in his next fight.
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