The striker, who turns 40 in July, notched seven goals in 16 appearances while on loan at Selhurst Park last season, and Steve Parish feels he can "do a job in the Premier League"
The striker, who turns 40 in July, spent the second half of last season on loan at Selhurst Park, scoring seven goals in 16 outings including the play-off final winner.
And Parish believes Phillips can "do a job in the Premier League" despite his age, and is keen to tie him down to a 12-month deal.
"He's someone we feel could still do a job in the Premier League, if we can come to some agreement with him and he is happy to be down in the south of England for another year," Parish told reporters.
"Kevin is super professional and we know he wouldn't make a decision to stay if he wasn't going to give his all."
Phillips has spent nine seasons in the Premier League - with Sunderland, Southampton, Aston Villa and Birmingham City - with a scoring record of 92 goals in 259 top-flight outings.