He bore the national flag for the second consecutive time at the 2008 Summer Olympics in Beijing. In the second round of heats he set a new national record in the 100 m, running below ten seconds for the first time in his career with a time of 9.99 s. In the semi finals he finished third in his race behind Asafa Powell and Richard Thompson, but improved the national record to 9.94 s. He qualified for the final in which he came close to the medals, finishing in fourth place behind Usain Bolt, Thompson and Walter Dix. Whilst he left the final without a medal, he had cause for celebration as he broke the national record for a third time, finishing in 9.93 s.
On 20 August 2008, he originally placed second in the 200 m at the Olympics, finishing behind Usain Bolt with a time of 19.82 s. This would have been both a national record and the second-ever Olympic medal for the Netherlands Antilles after Jan Boersma's silver in the 1988 Summer Olympics in Seoul. However he was disqualified an hour after the race for a lane violation. American Wallace Spearmon, who had initially placed third, was disqualified moments after the race for having stepped on his inside lane line during the race. The American coaches appealed the decision and upon viewing footage of Spearmon's offence they noticed that Martina had committed the same infraction. They dropped their appeal for Spearmon in favour of a successful protest against Martina. As a result of the disqualifications, Shawn Crawford and Walter Dix, both of the United States, were promoted to silver and bronze respectively.
Martina representing the Netherlands Antilles in 2007.
However, on 24 August, the Netherlands Antilles filed an appeal to the Court of Arbitration for Sport to reinstate Martina's medal, arguing that the American protest came after the 30-minute deadline for protests and appeals set by the International Association of Athletics Federations (IAAF), and also that they have their own video footage (not the official Olympic video footage) showing that Martina never left his lane. On 6 March 2009, the CAS rejected the appeal against Martina's disqualification.Shawn Crawford, who had been awarded the Olympic silver medal, reportedly gave his medal to Martina on 28 August 2008.
Martina competed at the London 2012 Summer Olympics, again in his three disciplines, the 100 metres, 200 metres and 4x100 metre relay. Only narrowly making it through to the 100 metre semi-final, Martina improved his personal best in the semi-final to 9.91. This race was also the fastest ever semi-final run, with Justin Gatlin running 9.82. In the final, Martina placed sixth behind Usain Bolt, posting 9.94. Martina then competed in the 200m, where he finished in fifth, again behind Bolt, in 20 seconds flat. In the relay, the Netherlands finished sixth in a time of 38.39. However, after the Olympics, Martina broke the 200m national record in Lausanne, lowering the time to 19.85, ending his reasonably successful season.
Note: Martina's fastest 100 metres time is 9.76 seconds with 6.1 m/s wind. However, the wind assisted run, set in El Paso, Texas on 13 May 2006, exceeds the IAAF's legal limit of 2.0 m/s and cannot qualify as a record.
If not for the disqualification in 2008 in Beijing, his PB would be 19.82