Gold medal Olympic hero Michael Phelps posted two of the fastest times in the world this year by winning the 200-metre freestyle and 100-metre butterfly at the Indiana-polis Grand Prix.

The 16-time Olympic medallist won the 200m in one minute, 46.27 seconds and did the same in the 100m with a time of 51.75 seconds on Thursday at the Indiana University Natatorium facility.

“The best time in the world. I’ll take it. I’m definitely happy,” said Phelps, who is gearing up for the 2012 Olympics.

The 25-year-old American won by a full body-length in the butterfly, beating out runner-up Kaio de Almeida, of Brazil, and Japan’s Masayuki Kishida, who placed third.

In the freestyle, Phelps defeated Tunisian Olympian Ous Mellouli by seven-tenths of a second. Dominik Meichtry, of Switzerland, was third.

US Olympian Dana Vollmer also turned in the fastest time in the world this year by winning the women’s 100-metre butterfly in 57.66 seconds.

Ireland’s Barry Murphy won the men’s 100-metre breaststroke in a world leading 1:00.77, and so did Mellouli in the men’s 400-metre individual medley with a time of 4:13.80.

Phelps’s impressive results are an indication that he is stepping up his performances ahead of the Olympics in London next year.

“We really just want to get him back to the top level, or near the top level, and it’s good to be back,” coach Bob Bowman said.

“Finally, he’s in the game. Now, we can kind of worry about the other stuff.”