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- Dream as big as you can dream, and anything is possible.
- Upon winning his seventh straight Gold medal and having set his seventh straight Olympic record in as many events in the 2008 Olympic Games, 16 August 2008. (Source: "Phelps ties Spitz’s record with seventh gold medal… just barely". Sports Illustrated. )
- Records are always made to be broken no matter what they are. Anybody can do anything that they set their mind to.
- Upon winning his eighth straight Gold medal and having set his eighth straight Olympic record, as well as his seventh world record, in his eight events in the 2008 Olympic Games, 17 August 2008. (Source: "Phelps wins historic eighth gold medal". CNN. )
- It's not how you start, but it's how you finish.
- Upon winning four Gold medals after the silver medal in his first race in Rome 2009.