Canelo by a long long shot. Those deserved losses against Lara, 36yo GGG, 36 yo Mayweather were amazing. He was especially impressive during his weight bully campaign at 154. Also of note are his exemplary fights against Smith, Jacobs, Chavez, Fielding, and Yildrim where they all strived to win. The Kovalev fight was also epic where Kovalev totally came to win in a 11 round back and forth war. I think Canelos greatest win is beating inactive blown up 160lber Billy Joe who hadn't been in a real top level fight since 2017. Canelo totally won every single round of the fight and then didn't get lucky at all with that eye cracking shot at the end. He is truly p4p number one and unbeatable. I think he could move up to 175 and clean it out alongside Cruiserweights after he seeing him use his mind bending magic (which has never been seen ever before) to prevent Kovalev throwing any hard punches.
Which Pacquiao? There are three Pacquiaos: The Pacquiao who was done and on his way out of boxing around the time who lost to Agapito Sanchez. The Pacquiao who was likely starting to use PEDs that resuscitated his boxing career around the time he beat Barrera. The Pacquiao who got back on the Juice after the Mayweather fight was done and over, which is today's Pacquiao.