The d-wave pair-pair correlation of the two-dimensional Hubbard model is investigated by the power-Lanczos method. A Jastrow-BCS type wave function is used in our variational study. By assuming a monotonic behavior of the long-range pairing correlation under Lanczos iteration, we found there is no long-range pairing order in the intermediate interaction region (U ≈ 10), which is consistent with the former result by the constrained-path Monte Carlo method. We also present numerical results obtained by the exact diagonalization of the 4x4 lattice in supporting our conclusion.