The vastly experienced front man will turn 40 years old next week but is still going strong and is enjoying yet another gruelling pre-season after being released by Blackpool at the end of last season which he spent the second half of on loan at Selhurst Park.
Phillips scored the goal from the penalty spot to send Palace back to Premier League back in May at Wembley and is set to play a strong role in the Eagles side with main man Glenn Murray set to be sidelined until the new year.
Phillips knows this may be his final year as a professional and going out at the top was always an aim of the former Sunderland, Birmingham and West Brom striker.
“I am absolutely delighted, I loved my time here at the end of last season and was always hoping to have another chance to play in the top flight,” Phillips said.
“It’s unbelievable for me but I am really looking forward to it and hoping I can play a great part in the season ahead.
“Everyone I spoke to said to keep going as long as the fitness and hunger is there and that is certainly the case with me.”
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