"Hopefully, I will be back in the Wales team for the autumn internationals," said Phillips, who ruptured his cruciate ligament during the Ospreys' comprehensive win over Saracens in last season's EDF Energy Cup semi-final.
"I started running a couple of weeks ago and hopefully I will be back by the end of September," Phillips told the Western Mail.
"I definitely want to be hitting form by the time selection comes up for the autumn internationals. That's the goal we all have, getting into the Welsh squad.
"I'm dying to get back and things are going well so far. But my main concern is making sure that I come back fully fit without forcing the knee too early."
The 26-year-old former Cardiff Blues and Llanelli Scarlets scrum-half admits that he still has plenty of work ahead of him but he is at last starting to see an end to his injury misery.
"Hopefully things will go well over the next two months and we will have a much better idea after that.
"I can't do contact at all yet and I can only do straight line running at the moment, so there is still a long way to go as well.
"But the hard part is over now and I'm just looking forward to coming back, which should be sooner than planned."
Phillips' impressive form in 2007/08 saw him keep 2005 Lions Test starter Dwayne Peel out of the Welsh XV and, with another tour on the horizon, a similarly consistent season this time around could see the Osprey wearing a Lions shirt in South Africa in less than 10 months' time.
"I was really pleased with the way I played last year, particularly with Wales.
"I should be back close to the start of the season and I'm really looking forward to trying to improve on it.
"I suppose it makes next year massive for me and hopefully I can just follow on from where I left off last year.
"All I can do is my best. And over the last couple of years my best has been good enough."