Belfort showed a ton of heart but just was not able to get anything going against the champ.
While Belfort was once the 19-year-old kid who ran through his UFC competition, he now finds himself as a 35-year-old who may be on the tail end of his career.
For many fans, and Belfort alike, though, we know the lion still has some fight left in him.
Here are some fights he should consider taking next.
After coaching against each other in the first season of The Ultimate Fighter Brazil, Belfort and Wanderlei Silva were suppose to fight each other in a rematch of their 1998 bout.
Belfort was forced out of the bout thought, thanks to a broken hand.
If the two fighters are to ever meet again, what better time than the present.
Both men are coming off losses, and in Silva's case, he would love to try to avenge the second-shortest loss of his career.
Like Belfort, Brian Stann fell short of victory last night, thanks to some good wrestling.
Stann is always one punch away from being back in title contention and would have a huge boost of confidence if he could defeat a former champion.
For Belfort, it would be a chance to show that he is still relevant and can stand with almost anybody.
No matter who wins, this bout should be an exciting fight for the fans.
Whether they meet at middleweight or light heavyweight, Sonnen and Belfort would be a fight fans would love to see.
Although Sonnen is currently talking his way into a title bout with Jones, both he and Belfort have had some choice words for each other.
Sonnen is no stranger to fighting an angry Brazilian and would, without a doubt, have some great trash talk for Belfort.
Fans would be on Belfort's side, though, and would love to see if he could shut Sonnen up.
Although Belfort may be on his way back to middleweight, he proved that if the UFC ever asked, he would take another fight at light heavyweight.
Why not have him take on Quinton "Rampage" Jackson?
While Jackson is on his way out of the UFC, a fight with Belfort would be a high-profile fight between two former champions who love to keep the fight standing.
Although Michael Bisping may have stated his case to be the No. 1 middleweight title contender, some may have other thoughts.
If Bisping is not put in another title-contention fight with the winner of Tim Boetsch vs. Chris Weidman, why not have him take on Belfort.
Belfort may have lost last night, but he came closer than anyone else has to defeating Jones.
Belfort is very loyal to the UFC and will take on anybody at any time. A scrap with Bisping should be an exciting one.
A win for Belfort would put him in middleweight title contention once again. A win for Bisping could possibly put him next in line for Anderson Silva.