During the talk-show host's Late Night program on Wednesday evening, a clip showed Fallon paying a visit to the White House to help raise awareness for the first lady's Let's Move fitness campaign.
As the Rocky III theme song "Eye of the Tiger" proceeds to play, we see Fallon and Obama go head-to-head in a series of events.
From a race up the stairs and hula-hooping to push-ups and a fierce game of dodgeball, these two prove they both have a competitive side.
In the end, it came down to a potato sack race to determine the winner, with Obama, not surprisingly, coming up victorious.
Barack Obama's better half, naturally, thanked him for participating on behalf of such a worthy cause.
"It was my pleasure," Fallon said. "I think the most important thing for the kids to learn is it's all about being active and having fun. It doesn't matter if you won or if you lost."
To which Obama replied matter-of-factly: "It matters."