December 3, 2008 Phelps is SI's Sportsman of the Year Play video

(NECN/NNS) - Olympic swimmer Michael Phelps is Sports Illustrated's Sportsman of the Year for 2008.

Phelps, a Maryland native, won 8 gold medals in the 2008 Summer Olympics in Beijing, China, setting a new record.

He was very appreciative to have his name alongside some of the greatest names in sports.

"You know being able to win an award like this where you know there have been so many great athletes who have one this award," Phelps said. "You know, Jordon, you know, to John Woodin, you know to Arnold Palmer. You know, there is so many unbelievable athletes who have received this and to be in that great honor being with all them it's a feeling that, it's hard to put into words."

"I've been able to accomplish a lifetime dream and a goal of mine this year and you know, I'm just having fun, letting everything roll, and just going with the ride, and having a good time."

As for the 2012 Olympic Games, Phelps will compete. But how about another eight?

"No. I definitely won't go for eight again but we'll see what happens the next four years."