Reports in the national press on Sunday morning suggest West Ham are prepared to pay £50m for Phillips.
But it is understood that Leeds have informed West Ham and any potential suitors that the pair would not be leaving Elland Road.
Raphinha has been in talks for a new contract and Phillips has put on record his desire for a new deal with the Whites, although the pair are yet to put pen to paper.
Their current deals are due to expire in 2024.
Leeds have been unable to secure their own priority target this month, Red Bull Salzburg midfielder Brenden Aaronson, but have been adamant throughout the window that they had no plans to sell key men.
There has been interest shown in winger Crysencio Summerville but unless Leeds can replace him, the youngster will stay part of Marcelo Bielsa’s plans.