Michael Phelps received national acclaim for smoking the competition - to the tune of eight gold medals - at the 2008 Summer Olympics.
The swimmer has been dropped as a spokesman by a major brand, however, for smoking marijuana.
A few days after Phelps apologized for being caught with a bong at college party, Kellogg has fired the Olympian as a pitchman.
"We originally built the relationship with Michael, as well as the other Olympic athletes, to support our association with the U.S. Olympic team," a rep for the cereal maker said yesterday, adding that the swimmer's recent behavior is "not consistent with the image of Kellogg."
We hope Caroline Pal hasn't been dating Michael Phelps for the free cereal.
Meanwhile, USA Swimming, the sport's governing body, has suspended Phelps from competition for three months.
"This is not a situation where any anti-doping rule was violated, but we decided to send a strong message to Michael because he disappointed so many people, particularly the hundreds of thousands of USA Swimming member kids who look up to him as a role model and a hero," the federation said in a statement.
Did Michael Phelps deserve these punishments? You tell us!