Barrett competed in three Olympic Games and won two medals. He finished 11th in the Finn at the Naples, Italy Games 1960, won a silver medal in the Finn at the 1964 Tokyo Games, and crewing for Lowell North won the Star class gold medal at the 1968 Games in Acapulco, Mexico. Throughout his competitive career Pete won several championships including the 470 Nationals, Finn North Americans, the C-Scow Blue Chip Regatta, and the A-Scow Inlands. He also crewed aboard the winning boat in the 1971 Chicago-Mackinac Race. In addition, Barrett served as a contributing editor to Yacht Racing/Cruising (now Sailing World), and designed several popular sailboats including the Aquarius 21 and 23 built by Coastal Recreation, and the Mega 30 built by C&C Yachts.