(L-R) Ricky Berens, Ryan Lochte and Michael Phelps of the United States shout encouragement to Peter Vanderkaay (Photo credit: Nick Laham/Getty Images)

(BEIJING, August 13) -- The US Men's 4 x 200m Freestyle team, led out by the indomitable Michael Phelps, smashed the world record on the way to winning the gold medal on Wednesday.

The triumph keeps alive Phelps' dream of gathering a record eight golds at the Beijing 2008 Olympic Games. The win also brings Phelps his 11th career Olympic gold to date.

The US team of Phelps, Ryan Lochte, Ricky Berens and Peter Vanderkaay led for the entire race and stretched the world record margin throughout the race.

Lochte followed Phelps' lead-off leg and established command under the world record time by 3.63 seconds. Berens slightly increased this, handing over to Vanderkaay to anchor the relay home and extend their lead on the world record, smash it by 4.68 seconds and break the seven-minute barrier at 6:58.56.

(L-R) Ricky Berens, Peter Vanderkaay, Ryan Lochte and Michael Phelps celebrate their victory (Photo credit: Nick Laham/Getty Images)

US and Russia fought out the first 200m, with Australia's Grant Hackett edging the Russians out for second place at the 400m mark. Canada enjoyed a great third leg through Brent Hayden, to give them second place behind the US at the 600m mark.

Russia's Alexander Sukhorukov swam a fast final 200m to move past Canada and grab the silver medal in 7:03.70 which was also under the old world record.

Australia, through Nick Ffrost, also overhauled the Canadians to take the Bronze medal in 7:04.98.