Hatton: I'm over Floyd and Pac defeats
The 34-year-old retired from boxing after his second-round defeat at the hands of Pacquaio in 2009, just the second loss of his career after being knocked out by Mayweather two years earlier, which sparked his downward spiral.
Hatton struggled to adjust to life outside the sport, admitting to battles with depression, alcoholism and suicidal tendencies after leaving with what he still views as a tarnished reputation.
"That's not how I envisaged my career ending and that's not how I wanted my kids to remember me," Hatton told the Daily Telegraph.
"People are saying: 'You had a good career, Ricky, you don't need to be ashamed of it because you got beat by Mayweather and Pacquiao'.
"And people say, 'Ricky, you are a legend'. But I feel a failure because of what I did in that time gap. That's why I came back."
With one defeat in 33 fights at the hands of WBA welterweight champion Paulie Malignaggi, Senchenko poses a serious threat to Hatton's plans for title fight contention in the near future.
But while lucrative fights against Amir Khan and Kell Brook have been mooted, the Manchester native believes his return to the ring offers the chance for redemption.
"Whatever happens on November 24 I've already won," Hatton said. "Of course I want to win a world title after everything I've been through.
"I've let go of the two defeats now. It took me so long. I nearly packed up after the Mayweather fight. I wasn't just thinking 'Ooh it's my biggest pay-day, I've got a chance to fight Floyd Mayweather'. At the time I was thinking, 'I'll beat him'.
"If I could go back and fight Mayweather I'd do it now, because that's the fighter I am. But the comeback is not to fight Mayweather, it's to fight Malignaggi. It's to redeem myself and make people proud."