"Paris 2024 or Los Angeles 2028," Clark told the Huffington Post. "This record has motivated me to keep swimming, to keep striving and do everything I can to get to that elite level."
Phelps, who was 15 when he competed at his first Olympics, set the record in 1995 and has gone on to win 23 gold medals in a career spanning 16 years.
But Clarke's coach insists the swimming prodigy has all the potential to emulate the most decorated Olympian of all time.
"This kid is unlike any other young man that I've ever coached," Clark's coach Dia Riana told CNN. "He's always stood out, he's just, he's kind of a savant of sorts."
His father, Chris Apuada, added: "He does piano lessons, he does martial arts, and at school if there's a computer class, coding, or STEM programs he's always joining."
Despite his enthusiasm, Clark said the load doesn't get too heavy.
"I deal with it really well, I just have to balance," he told CNN.
"I love swimming because I have a lot of people supporting me and my coaches are always there for me and my parents are always there," Clark said.
Clarke's mother told the Huffington post he was named after Superman because of his father's love for the superhero.
"We're always just telling people his name is Clark," she said. "But when they realise his full name, people just call him Superman."