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Dana White says Urijah Faber's comeback is REAL -- telling TMZ Sports the 40-year-old's victory this weekend was legitimately impressive ... and he ain't ruling out a fight with Henry Cejudo.

Faber hadn't fought in 3 years when he came out of retirement to take on Ricky Simon on Saturday -- and Faber destroyed him in 46 seconds!

"He looked good man," White told TMZ Sports.

"Obviously, not just who he beat but HOW he beat him and how he did it. He looked incredible."

Urijah Faber’s stunning 40-second TKO victory over Ricky Simon pic.twitter.com/zbY4l8cXde — MMA LIT (@MMA__LIT) July 14, 2019 @MMA__LIT

Earlier this week, Faber told us he wants a shot at Henry Cejudo at Madison Square Garden in November -- but after talking with Dana, it seems Urijah might have to wait.

White explained that Cejudo should defend his 125 pound title against Joe Benavidez BEFORE taking on Faber ... giving Henry a chance to avenge his last defeat (Joe beat Henry in 2016).

Look, it's obvious Faber vs. Cejudo isn't White's priority -- but Dana clearly knows there's interest ... and that's good for Urijah.

In the meantime, White says he's glad Cejudo -- who's the champ in TWO weight classes -- is willing to defend both of his titles.

"I think that he's a guy who can carry both of them ... by both of them I mean both divisions."

We also spoke with White about Pernell Whitaker -- and how much he meant to the world of combat sports.