The 31-year-old goalkeeper arrived at the MKM Stadium on a free transfer from Rotherham United last summer, initially signing a two-year deal. Although his opportunities have been limited to six appearances, Phillips has been happy to commit his future to the Tigers.
Phillips said he had thoroughly enjoyed his first year at the club and was delighted to remain part of a squad that achieved promotion.
“I’m absolutely delighted. I’ve loved my time here so far. It’s only been a year but with all the things the club has managed to achieve, it’s been brilliant to be a part of it day to day,” he said.
“When I came here, promotion was not something I really expected. The group was tremendous to be a part of last season, the way we worked for each other every day. I like to be a big part of the dressing room with the boys, which is easy to do because the group is so good.”
Phillips faces increased competition following a significant reshaping of Hull's goalkeeping department during the summer.
Ivor Pandur has moved to Rangers, while Konstantinos Tzolakis arrived in a major investment reportedly worth close to £20 million. Jack Butland has also joined the club, although he has been recovering from an elbow injury sustained before Hull's final pre-season friendly in Frankfurt.
Tzolakis has made an encouraging start, recording five clean sheets across his first nine domestic and international appearances this season. Phillips, however, views the arrival of two experienced goalkeepers as an opportunity to develop his own game.
“Kostas and Jack have come in this year, both at different stages of their careers, but with great profiles,” he said. “There are things I can learn from them, and hopefully things they can take from me.
“Training with them, especially someone like Jack in pre-season, with the career he’s had and playing for England, it’s exciting knowing I’ll be working with those two goalkeepers on a day-to-day basis.”
Phillips also highlighted his role in supporting the club's younger goalkeepers while continuing to improve himself.
“We have a good group of young goalkeepers and I like to play my part in trying to help them, while still trying to improve myself every day.”
He praised goalkeeping coach Erbil Bozkurt for the working relationship they have developed and the support he provides to the entire department.
“I’ve loved working with Erbs. It’s been excellent and we get on really well, on and off the pitch. He gets the best out of me and the other goalkeepers too. I’m really looking forward to the next two years.”