When his nation Greece hosted the 2004 Summer Olympics in Athens, Tsagkarakis competed only in the 50 m freestyle. He achieved a FINA B-standard of 22.90 from an Olympic test event at the Athens Olympic Aquatic Centre. Despite being delighted by the home crowd, Tsagkarakis came up short in second place and twenty-fourth overall by just 0.13 of a second behind Lithuania's Rolandas Gimbutis in 24.72.