The funnyman proposed to his girlfriend, social worker Zara Carr, following the death of his friend Peter O'Toole, reported Contactmusic.
"I realised I don't have much time and want to make the most of it. Zara is a wonderful woman, who not only looks good but has an amazing brain. I love her very much," Phillips said.
Phillips' wedding plans come two years after his second wife, Bond girl Angela Scoular, committed suicide aged 65 in April, 2011.
The star split from his first wife, Penny Bartley, in 1965.
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