The New England Patriots quarterback was on the show Monday when the late-night host asked him about his notorious menu. Brady said that he rarely drinks beer.
Colbert then pulled up two full glasses of beer from under his desk.
"I was a pretty good beer chugger back in the day," Brady said.
He then asked if the two were competing.
"Well, I don't know if you are a competitive guy," Colbert responded.
The five-time Super Bowl champion then obliterated Colbert in the contest, chugging his beer in about two seconds. Brady even had time to go back and finish his beer -- when he noticed that left a little in the glass -- and still beat Colbert. Brady was also forced to eat a strawberry for the first time in his life.
Colbert and Brady discussed several more topics, including losing Super Bowl LII to the Philadelphia Eagles.
"I was pretty disappointed. It was a tough loss, but I've been a part of those winning teams and I think when you lose, you just have to understand that comes with it," Brady said. "It's a competitive sport and no one knows the outcome. It ended up being a great game."
Brady, 40, said he cries to calm himself down after a tough loss. The TB12 Method author also talked about his book and when he expects to retire.
He eventually gave Colbert an arm massage to the tune of some romantic music, before explaining how pliability has helped him prolong his decorated 18-year NFL tenure.
Brady said he thought player protests this season brought up a lot of "healthy discussion in the locker room" and he respects the need of other players to express themselves.
The final episode of Brady's documentary series Tom vs Time aired Monday on Facebook Watch. In that episode, Brady also discussed the Super Bowl loss and how he plans to spend the offseason with wife Gisele and his three children.