The product the swimming and book-writing enthusiast is pitching -- waterproof headphones -- could not be better suited to his life.
You'll recall that Kellogg's dropped Phelps after the now-infamous bong picture surfaced, while companies such as Visa, Speedo and Omega have stood by him.
This marks the first new endorsement deal for Phelps since all of the photograph hubbub.
H20 will feature Phelps in a summer ad campaign, says founder and chief executive Kristian Rauhala.
In an exclusive interview with USA TODAY, Phelps said H20's in-ear, waterproof Surge headphones have helped improve his training sessions. They're integrated with the Interval carrying case housing an iPod Shuffle music player. Phelps says he attaches the apparatus to his swim cap with a magnetic strip.
Look for Phelps' smiling face on products in the audio department of your local Apple, Target, Sports Authority and Best Buy stores this summer.
Phelps lands first sponsor since infamous bong photo (USA Today)