Phillips, 24, impressed last season despite the R's relegation to the Championship, scoring three goals and notching eight assists in a strong personal campaign.
With Chris Ramsey's side now back in the second tier, Phillips is bound to want a move back to the top flight - but much like team-mate Charlie Austin, he has yet to leave Loftus Road despite months of speculation.
Now, The Sun report that West Brom have asked about signing the Scottish international winger, but have been told to pay around £10m in order to prise him away from West London.
The report states that the Baggies are unwilling to meet that asking price, though manager Tony Pulis is on the hunt for a winger - even after signing James McClean from Wigan Athletic earlier this summer.
Phillips possesses pace and a superb delivery when cutting in from the left hand side onto his right foot, which would be vital for West Brom having just signed Rickie Lambert from Liverpool.
Ultimately though, a £10m asking price is unsurprisingly deemed excessive by West Brom, no matter how much they believe Phillips would improve their options out wide.
Unless QPR lower their asking price, a move to The Hawthorns seems unlikely for Phillips - and with just days to go until the start of the season, it looks like he will begin the campaign with QPR; but whether he will finish it with them is another matter.