On Wednesday's live results show, host Nick Cannon introduced the Olympic record setter at the start of the show, and Phelps was meant with boisterous applause and the familiar chant of "U.S.A.! U.S.A.! U.S.A.!"
Before kicking off with the eliminations, Cannon had to ask Phelps a few questions about his historic wins during the last Olympic games of his career, and what it felt like when he won his 23rd gold.
"At that moment is when all the emotions came out," Phelps recounted. "I was finally happy with everything I did in my career, and I was able to retire how I wanted to."
"More importantly, I had our first child in the stands, watching the race," he added, as the cameras cut to Johnson cradling an adorably confused-looking Boomer in the audience as the crowd cheered.
"He wasn't always awake," Phelps joked. "But it's a completely different experience being able to look up and see your baby boy up there after a race."
"I hate to lose, number one," the 31-year-old icon said, smiling. "My biggest thing is, I started goal setting when I was nine years old, and I literally dreamt for the stars and dreamt for the biggest possible thing I could think of: I wanted to change the sport of swimming and I wanted to do something nobody had ever done before."
With 23 golds, three silvers and two bronzes over five Summer Olympic Games, Phelps certainly managed to make that dream a reality.