Phillips severed his ties with the Home Park outfit at the end of last season, having spent four years with the club, and he made the short trip across Devon to train with The Gulls.
Torquay have been pleased with Phillips' application in training and are mulling over whether to offer him a deal.
However, they may face rival interest from Sweden - as Malmo have been alerted to his availability.
It is not yet clear how far Malmo have looked into the situation, but they could prove a tempting option for the 28-year-old despite him hailing from the Devon area.
