Fossett and his crew of 12 reached Plymouth in the Cheyenne, a 125-foot catamaran to a small cheering crowd Monday.
They circled the globe in 58 days, 9 hours and 32 minutes, breaking the record set by Frenchman Bruno Peyron in 2002, was 64 days, 8 hours and 37 minutes.
"As you can imagine, we are all terribly excited but emotionally drained," Fossett said.
This was Fossett's 22nd sailing record. He holds world records in ballooning, gliding and cross-country skiing and other endurance sports.
The U.S. businessman turns 60 later this year, but has a busy schedule planned. In June, he will attempt to reach a record altitude in a glider, and in October he hopes to become the first man to make a solo, non-stop round-the-world flight in an experimental jet aircraft.