The 46-year-old has already expressed interest in the vacant role in the stage of light, after Jack Ross left earlier this week.
Sunderland fans may wonder if Phillips, who scored 130 goals for the Black Cats as a player, is the right choice due to his lack of management experience.
After the recent coaching roles at Leicester, Derby and Stoke Phillips now wants to be the lead actor in the undergrowth.
"Of course I'm interested in the job," Phillips said when asked about his interest. "Was I ready when the job came last, before Jack accepted it? I probably would have said yes, I would have liked to take it.
"But now, 18 months later … I know that I have not worked at Stoke since January, but I'm 46 years old and have a lot more experience on my side – not only in football, but also in dealing with life people ,
"I watched the club closely, I followed them, I talked to a lot of people, to friends who go to home and away games, there is not much wrong in the football club, things just have to be changed a bit, left and right ,
"Maybe they just need somebody, and I'm going to talk about it now, somebody who has something to do with the players who was there not so long ago and who they did not have yet."
"If you look at the managers since 2013, I think they had 11 managers, none of them managed to get it going, maybe they need to try a new approach, of course, yes, I'd like to have the opportunity "
Phillips returned to the northeast on Thursday evening to commemorate his former manager Peter Reid at a special dinner event hosted by the Football Writers' Association.
And the former shooter, who admitted to asking for other jobs since leaving Stoke, said he had been in contact with the Sunderland hierarchy.
"We contacted," Phillips said when asked if he had contact with the owners of Sunderland. "I'm not going to reveal if they've come back to me or not, but I've definitely put my hat in the ring, let's just say it and we'll see what happens in the next 24 to 48 hours."
Phillips, who has played for several clubs and won eight caps for England as a player, says he has learned a lot from all of his managers, all of whom have used different tactics and styles of play.
The former frontman believes that these experiences will benefit him in the next phase of his career.
"I've learned a lot, working with some great managers during my time as a coach," added Phillips, Steve McClaren, Paul Clement and Nigel Pearson, "It's been a great learning curve – how to handle players.
"Man management is the key for me. I have learned a lot in a short time. In connection with my experience as a player and the way I can talk to players and relate to players, I do not say that this will be the perfect formula, but I think that is a huge advantage.
So, whether in Sunderland or another club, what can fans expect from a Kevin Phillips squad?
"Attack, positive football," he replied. "Why did you want to go into a game and draw it and not win?
"I'd rather lose it than try to get away from playing games and believe we did not really try it today." I think supporters are referring to it. Try to win a football game without playing kamikaze football. I think we would all be glad to see that. "
Nevertheless, Phillips knows that his popularity alone is not enough to secure him the coveted manager job at the Stadium of Light, as he demands results and ultimately promotion.
"I would not say that was all that," Phillips said when asked about his relationship with Black Cats supporters.
"You look at Woody (Jonathan Woodgate) down in Middlesbrough and it was a bit of a fight for him, even though he has this relationship with the followers.
"After all, it's about achieving results on the football field, and after seeing a lot of Sunderland, I had my own views, my own ideas on how to win football matches.
"Of course, if I went to the club in any capacity, the relationship with the fans would be there right away, but that does not matter in the end. Everyone who comes in has a job to do. That way you can win football matches. As simple as that."
Phillips has also been encouraged by the appointments of Frank Lampard and Steven Gerrard at Chelsea and Rangers, and hopes that more young managers and former players will now get chances.
"I think it's great, these players have so much experience, they've won everything, they've done everything," Phillips added.
"If, as a young player in the squad, you have a gaffer in front of you who was there, whom you saw and did, and that is not a disrespect for others, then I would like to learn about it."
"I remember when I played in Sunderland under Peter Reid, I stuck to every word because he was there, saw it and did it.
"That does not mean that I would not stick to a Jose Mourinho because he's a great coach, but it's a bit different when you know they were there because you can ask them different questions. How did you deal with it? For me that makes the difference. "
Phillips will hope for a similar chance as his former English teammates, whether that chance comes in Sunderland or elsewhere.