Phillips, who turns 40 later this summer, is enjoying his football and is not even considering retiring.
The former Sunderland and Watford striker is out of contract this summer after joining Palace on a short-term deal in January.
Phillips, who is hoping to help Palace to promotion to the Premier League when they face Watford in the Championship play-off final, is hoping to play on for another season at least.
"If we go up, if something is offered to me, I'll seriously consider it," Phillips told Sky Sports Radio.
"I'd imagine that I'll be playing for one more year, without a shadow of a doubt.
"I feel good. I think I've certainly shown this year that I can do a job coming off the bench."