Joseph Schooling could not believe his achievement in beating Michael Phelps, and asked the American to come back for another Olympics.

Joseph Schooling admitted he was still in dreamland after denying Michael Phelps a final individual Olympic gold of his glittering career.

And the Singaporean history-maker revealed he had even tried to convince the legendary American to rethink his retirement plans after storming to victory in the 100 metre butterfly on Friday.

Phelps was denied gold number 23 in shock fashion by Schooling, who became his country's first Olympic champion by clocking 50.39 seconds.

A three-way tie for second saw South Africa's Chad le Clos and Hungarian Laszlo Cseh share silver with the 'Baltimore Bullet', but the night was all about one man.

"I'm sorry if I don't seem like I'm full of emotions but I don't know what to believe - that I actually did it or I'm still preparing for my race. I'm between the two of them," said Schooling.

"I need to let this moment sink in, realise what I've done and then I'll have a better understanding of what I accomplished.

"But right now all I can say is I'm really honoured and privileged to have an opportunity to race in an Olympic final alongside huge names like Michael, Chad and Laszlo, guys that have redefined the sport."

Asked what Phelps had said to him after the race, Schooling added: "He said, 'Good job, that was a great race'.

"I told him, 'Four more years?' and he said, 'No way.'

"If he changes his mind, that would be fun. I like racing Michael."

Phelps, meanwhile, was humble in defeat as he heaped praise on the 21-year-old champion.

"Joe is tough," said Phelps. "He had a great year last year and has had a really great last two years so hats off to him. He swam a great race.

"I saw second next to my name and then I looked up again and then I looked over at Laszlo and Chad like, huh, we all tied for second, that's kind of cool.

"It's wild. Chad and I have had some races over the last four years and Laszlo and I - I can't even remember when our first race was. Probably as long as Ryan [Lochte] and I.

"So it's kind of special and a decent way to finish my last race. I can't complain too much."