Liverpool are one such club monitoring the starlet’s progression at Bloomfield Road.
The 20 year-old spent a month on loan at Sheffield at the beginning of the season and made a massive contribution to the Blades’ cause during his short spell, scoring six goals in six appearances.
Since returning to the Tangerines, Phillips has carried on his goalscoring form, netting seven times in 15 appearances, including two hat-tricks.
This has led to reports claiming that Liverpool are at the top of a list of top flight clubs scouting the youngster.
The Anfield club are apparently in the market for a winger who can provide goal-stricken Andy Carroll with a platform for improvement.
As it stands, Xherdan Shaqiri and Adam Johnson are two other widemen being linked with a move to Merseyside, but Phillips would undoubtedly prove the more economical option.
The Blackpool star is currently a part of the England Under-20 setup, making five appearances for the side.
Manager Ian Holloway has tipped Phillips for great things and following some standout displays in the 2010-11 Premier League season, described his charge as “un-markable at times”.
Although Holloway will be keen to keep a firm hold of his talent but after stating his desire to play in the Premier League, it’s likely that Phillips’ £4m valuation will attract a heap of January interest.