On Sunday, the 29-year-old Olympic champion took to Twitter to share his decision with fans.
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Michael Phelps has decided to seek professional help following his recent DUI arrest
"The past few days have been extremely difficult," Michael said. "I recognise this is not my first lapse in judgement, and I am extremely disappointed with myself.
"I'm going to take some time away to attend a program that will provide the help I need to better understand myself.
"Swimming is a major part of my life, but right now I need to focus my attention on me as an individual, and do the necessary work to learn from this experience and make better decisions in the future."
I’m going to take some time away to attend a program that will provide the help I need to better understand myself.— Michael Phelps (@MichaelPhelps) October 5, 2014
Olympic swimmer Michael Phelps tweeted fans to tell them of his decision
Michael was pulled over by police for going 84mph in a 45mph zone in the early hours of 30 September. After failing a field sobriety test, he was taken to a Baltimore police station and charged with driving under the influence and speeding.
Shortly after his release, he apologised to his followers, saying that he understood "the severity of my actions and take full responsibility".
"I know these words may not mean much right now, but I am deeply sorry to everyone I have let down," he tweeted.
With 22 medals, Michael Phelps is the most decorated Olympian of all time
It's the second time that Michael – the most decorated Olympian of all time – has been arrested for DUI. He was previously charged for driving under the influence in Maryland in 2004, when he was 19.
Michael announced his retirement after winning his 22nd Olympic medal at the London Games in 2012, but returned to the sport earlier this year.