The most decorated Olympian in history will have a chance to add to his trophy case.

Michael Phelps punched his ticket to the 2016 Rio Olympics and became the first male swimmer to ever make five U.S. Olympic teams by finishing winning the 200-meter butterfly Wednesday night at U.S. Olympic Team Trials in Omaha, Nebraska.

Phelps had the fastest time in preliminaries and semifinals, so it was no surprise when he pulled away from the field in the final with a time of 1:54.84.

Tom Shields was second in 1:55.81, and will also be headed to Rio.

Phelps, who turns 31 on Thursday, has already won the most gold medals (18) and overall medals (22) in Olympic history. He won eight gold medals in Beijing in 2008, a record for a single Olympics.

The 200m butterfly win brings Phelps full circle -- he finished fifth in the same event at his first Olympics in Sydney as a 15-year-old.

Phelps' victory was a shot in the arm for the "old guard" of USA swimming, which has seen some disappointments thus far at the trials.

Injury-plagued Ryan Lochte, an 11-time Olympic medalist, finished third and failed to make the team in the 400m individual medley. He then finished fourth in the 200m freestyle, which earned him a spot on four-man relay team.

Meanwhile five-time medalist Missy Franklin will not defend her 100m backstroke gold after a stunning seventh-place finish in the finals Tuesday night, but she earned a spot on the team by finishing second in the 200m freestyle in the race before Phelps on Wednesday.

Both Lochte and Franklin have chances left to qualify in other events.

The swimming trials continue through Sunday, with the Rio opening ceremony set for Aug. 5.