Michael Phelps of the United States celebrates after winning the men's 200m individual medley final at the Beijing 2008 Olympic Games in the National Aquatics Center, also known as the Water Cube in Beijing, China, Aug. 15, 2008. Phelps set a new world record and won the gold medal in the event with 1 minute 54.23 seconds. (Xinhua/Ding Xu)

American Michael Phelps overpowered teammate Ryan Lochte in the Men's 200m Individual Medley final with a new World record time of 1:54.23. Phelps' win delivers his twelfth career Olympic gold. The silver medal went to Laszlo Cseh of Hungary with a time of 1:56.52. Lochte took the bronze at 1:56.53.

Phelps set the previous World record (1:54.80) at the US Swimming Trials in July, 2008.

Editor: Yan