McKeon claims third medal as Australia secure relay bronze

Instead it was China who took out an epic race, shaving more than a second off the old mark. America were second, with Australia in third.

Despite qualifying fastest for the final, Australian coaches opted to change the entire team and switch four new swimmers in for Thursday's final.

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That left Ariarne Titmus, Emma McKeon, Madi Wilson and Leah Neale, to race for the medals.

It was a strategy that worked when the Australians took out the event at the 2008 Beijing Olympics, however on this occasion it was not to be.

While the team had eyed this race as a potential gold medal, it took a new world record from both China and America to defeat the squad.

"We were under our world record from 2019, which was a petty impressive time then," McKeon told Channel 7.

"You can't really ask for more than that, we all put in 100% effort and to get on the Olympic podium is very special."

Titmus was the lead swimmer for Australia, the team hoping the Olympic champion over this distance could put the side in a commanding position.

It did not go to plan, however, with the 20-year-old swimming one second slower than the individual event and touching the wall in second.

McKeon made up ground before fading in the final 50m. Wilson and Neale were brave, however they were unable to swim Australia into first place.

Titmus was disappointed with her swim, but still pleased to claim a third Olympic medal.

"I would've liked to have done a bit more for the team, I feel like I should have been better, but it's what you can do on the day," Titmus said.

"It's been a big couple of days, so happy to come away with the podium."

The medal is McKeon's third of the Games, to go along with gold from the 4x100m freestyle relay and bronze in the 100m butterfly.

The result came as McKeon qualified fastest for Friday's 100m freestyle final.

The 27-year-old was comfortable in winning the second semi-final in a time of 52.32.

The swim was slightly slower than the heat, where McKeon swam an Olympic record of 52.13

Australia will be well-represented in the final, with Cate Campbell earning a shot at redemption as the third-fastest qualifier.

The four-time Olympian was heavy favourite heading into the final in Rio, Campbell later admitting the pressure got to her as she went on to finish sixth.