TORONTO - Former UFC lightweight and welterweight champion B.J. (The Prodigy) Penn says he is coming out of retirement.

The 37-year-old from Hawaii told "The MMA Hour" on Tuesday that he plans to return to action under the tutelage of renowned trainer Greg Jackson in Albuquerque, N.M.

Penn (16-10-2) has not fought since July 2014 when he was stopped by Frankie (The Answer) Edgar. It was his third straight loss and fifth in his last seven fights (1-5-1).

Penn says he will fight as a featherweight.

"I want to go get that 145-pound belt," he told "The MMA Hour." "That’s definitely a huge motivation for me. I believe with Greg Jackson's help, I can get that done. And I believe that I will be able to walk away (as) the only man with three titles in three weight divisions."

Penn and Randy (The Natural) Couture (who held the heavyweight and light-heavyweight championships) are the only fighters to win UFC titles in two weight classes.

"This is my last resort. I'm going to give it everything I've got," Penn said.

Penn, who was inducted into the UFC Hall of Fame last July, has targeted Nik Lentz (28-7-2 with one no contest) as an opponent.