Commonwealth Games gold medalist Geoff Huegill announces Thursday that he is preparing to participate in the 2012 Olympic Games, even challenging American Superstar Michael Phelps in major swimming events.

Huegill has just returned from a six-year absence in the swimming competition since 2004. He made his comeback when he joined the Australian team in 2010 and competed at the Pan Pacific Championships, Commonwealth Games and the World Short Course Championships.

He won a gold medal in the 100m butterfly event in New Delhi last year but his memorable comeback was marked equally for famously losing 40 kilograms to compete in several swimming competitions.

Recognizing the tough nemesis he has to face in 15 months, Huegill admitted that he needs to train in order to be on a par with the world's best swimmers, including Phelps.

"I think he's without a doubt the best Olympic athlete ever, and it's not every day that you have an opportunity to race a man like that and particularly in my life, I didn't believe I would have an opportunity to race him again', Huegill said describing Phelps according to ABC News.

Phelps added ABC News is set to compete in the 100m and 200 m butterfly events in Shanghai in July.

Like Phelps, Huegill is a former wold champion. The butterflyer won the silver and bronze medals at the 2000 Games in Sydney Australia and a finalist in the 2004 Athens Olympics.

ABC News noted that Huegill, who has a personal best time at 51.69 seconds will be one of the oldest Australian swimmers in the Olympic Games. He would be 33 if he makes it to the swimming competitions in London.