Phillips, 22, wound up signing on with the Bills as an undrafted free agent out of Virginia Tech back in May. He agreed to a three-year, $1.71 million contract with the Bills but was waived as they trimmed their roster down to 53 players.
The Bills later signed Phillips to their practice squad at the start of the regular season.
During his four-year college career at Virginia Tech, Phillips caught 236 passes for 3,067 yards receiving and 17 touchdowns. He als rushed for 239 yards on 37 carries over the course of 49 games.