Since the International Archery Federation created a standardized set of rules in 1972, South Korea has won the most total medals and most gold medals in Olympic competition.
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Taking all international athletes into consideration, the one with the most Olympic medals overall is a Russian-Ukranian, Larissa Latynina. A former Soviet gymnast, she won more Olympic medals than anyone in history, male or female, in any sport. She won 18 medals; nine gold medals, five silver and four bronze.
That is swimmer Michael Phelps who has won 16 Olympic medals (14 gold, 2 bronze). With regard to U.S. athletes, indeed, Michael Phelps has won the most Olympic medals. However, taking all international athletes into consideration, the one with the most Olympic medals overall is a Russian-Ukranian, Larissa Latynina. A former Soviet gymnast, she won more Olympic medals than anyone in history, male or female, in any sport. She won 18 medals; nine gold medals, five silver and four bronze.
Michael Phelps of the US has the most olympic gold medals (14 total in 2004 and 2008) and the most medals by a male athlete (16 including his 2 bronze medals).
Michael Phelps (22 medals).