Phillips has undergone surgery to repair a persistent problem with an Achilles tendon and thus will miss what he said would have been his final shot at the Olympics.
"I have had surgery and I am looking forward to competing at the World Championship in 2013, which will be my final year," Phillips said in a twitter message.
Phillips, 34, won the long jump gold medal at the 2004 Olympics in Athens and then finished fourth at the U.S. Olympic trials in 2008. Only the top three finishers at the trials make the American Olympic team.
Phillips suffered neck and back injuries in a car accident this year.