The report suggests that the 24-year-old has become Tony Pulis’ top transfer target and lengthy negotiations with the London outfit appear to be paying dividends.
With the Baggies facing a distinct lack of quality down the flanks, it is clear to see why the Scotland international has attracted the club's attention.
Phillips is one of the players widely expected to make an instant return to the English top flight following Queens Park Rangers' relegation.
His improved form throughout the latter half of the season coincided with Chris Ramsey’s arrival; a brief period in which avoiding the drop looked possible.
He made 25 appearances last term, scoring three goals - one of which emerged as a contender for Goal of the Season - and recorded an impressive eight assists.
In Pulis’ well-disciplined West Brom set-up, Phillips would emerge as an integral source of creativity and flair – one feels his statistics would only improve.
The Birmingham Mail suggests that QPR are seeking £7 million for the former Blackpool man, which, considering he was signed from The Seasiders for £5 million just two seasons ago, seems a fair price to pay.