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Professional bouts range from four to twelve rounds of three minutes each, separated by one-minute rests. World championship fights are twelve rounds. Non-title fights are shorter, typically four to ten rounds depending on the fighters' experience. Title bouts were traditionally fifteen rounds, but the sport reduced them to twelve after the South Korean fighter Kim Duk-koo died from injuries suffered in a fifteen-round lightweight title fight against Ray Mancini in 1982. The WBC led the change that year, and the other sanctioning bodies followed, with the last fifteen-round title fight held in 1988. Amateur and Olympic men's bouts are three rounds; women's professional championship fights are usually ten two-minute rounds, though there is a push to allow three-minute rounds.

An undisputed champion holds all four major world titles in a division simultaneously: the WBA, WBC, IBF and WBO belts. Because boxing is governed by these four rival sanctioning bodies rather than one league, each division can have four different 'world champions' at once, and unifying all of them is the sport's ultimate achievement. Fragmentation made it nearly impossible for decades, but a deliberate revival has produced modern undisputed champions such as Canelo Alvarez at super middleweight in 2021 and Oleksandr Usyk, who in 2024 became the first four-belt undisputed heavyweight champion and the first undisputed heavyweight since Lennox Lewis in 1999. Undisputed titles are prized but fragile, since the bodies' conflicting mandatory-defense rules often force a champion to vacate one belt soon after unifying.

The most common answer is Sugar Ray Robinson, whom The Ring magazine and most historians rank as the greatest pound-for-pound fighter ever. Across a 25-year career he went roughly 173-19-6 with 108 knockouts, held the welterweight title and won the middleweight crown five times, and was unbeaten for 91 consecutive fights between 1943 and 1951. The phrase pound-for-pound, meaning greatness independent of weight, was coined to describe him. The debate's other leading names are Muhammad Ali, the most culturally significant boxer and a three-time heavyweight champion; Henry Armstrong, who held three world titles at once; and Joe Louis, whose heavyweight reign lasted nearly twelve years. Because fighters compete in different divisions and eras with no shared scoreboard, the ranking is a matter of informed judgment rather than settled fact.

Professional boxing has seventeen weight divisions, matching fighters by size for safety and fairness. From lightest to heaviest they are: minimumweight (105 lb), light flyweight (108), flyweight (112), super flyweight (115), bantamweight (118), super bantamweight (122), featherweight (126), super featherweight (130), lightweight (135), super lightweight (140), welterweight (147), super welterweight (154), middleweight (160), super middleweight (168), light heavyweight (175), cruiserweight (200) and heavyweight (over 200 lb, with no upper limit). The 'super' and 'junior' prefixes denote in-between classes added over the decades. Fighters must make their division's weight limit at an official weigh-in, usually the day before the bout, and often rehydrate substantially before fighting. The proliferation of divisions is one reason boxing has so many world champions.

Fights that go the distance are decided by three ringside judges using the 10-point must system. In each round, the judge awards 10 points to the fighter he believes won it and 9 or fewer to the other; a close round is 10-9, a round with a knockdown is usually 10-8, and a dominant round can be 10-8 or lower. Judges score clean, effective punching, ring generalship, defense and aggression, and they cannot see one another's cards during the fight, which is why split decisions happen. At the end, the scorecards are tallied: a fighter needs a majority of the three judges to win. Outcomes include unanimous decision (all three judges agree), split decision (two to one), majority decision (two judges plus one even card) and various draws. A knockout or stoppage ends the fight before the cards matter.

A knockout (KO) occurs when a fighter is knocked down and cannot rise before the referee counts to ten, ending the fight. A technical knockout (TKO) ends the fight while a fighter is still technically able to stand, when the referee decides he can no longer intelligently defend himself, when the ringside doctor halts the bout for injury, when a fighter's corner throws in the towel to protect him, or when a jurisdiction's three-knockdown rule triggers. Both count as stoppage wins and are recorded together in a fighter's knockout total. The distinction is essentially about how the stoppage happens: a full count for a KO, a judgment call by the referee, doctor or corner for a TKO. A related result is a retirement (RTD), when a fighter quits on his stool between rounds.