Wortley-raised Phillips, who has been a revelation for the club during the Marcelo Bielsa era, was the subject of intense summer interest from Premier League newcomers Aston Villa, with Leeds knocking back a bid in excess of £20million from the Midlands outfit.
All the while, the Elland Road hierarchy have been speaking with Phillips and his representatives about a new contract, with Phillips - who turns 24 at the start of December - set to officially sign a five-year deal shortly, with the news likely to be announced this week.
The development would serve as the perfect fillip ahead of United's return to action in Sunday's Yorkshire derby at Barnsley - and the news would also represent a significant confidence boost for the club's players, according to Phillips' team-mate Stuart Dallas.
On Phillips, who has rapidly emerged as one of the stand-out players in the Championship over the past 13 months, said: “Absolutely (it’s a boost for the players).
“Us as players, of course we want to see your mates playing at the highest level they can, but we want it to be with us.
"Kalvin has an opportunity to do that and he’s a big part of our team.
"For a player like Kalvin to remain at the club, I think that shows ambition from the club."