Futures deals are essentially camp invites that will give players the opportunity to compete for roster spots during offseason workouts and training camp.
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 before calling him up in October. Buffalo later waived him and he agreed to return to their practice squad.
In 2018, Phillips has appeared in two games for the Bills and caught one pass for nine yards receiving and no touchdowns.