The Academy graduate, who signed professional forms in November 2004, returned to the First Team fold in Wednesday's Carling Cup tie against Port Vale, having made his senior debut against Liverpool in August 2004.
The attacking right full-back enjoyed two loan spells at Millwall last season before returning to the Club and featuring strongly in the pre-season programme.
"I wanted him to extend his contract because I think he is a terrific player," said Martin Jol on the soon-to-be 20-year-old. "He made his debut a couple of years ago when he was 17 and he has shown me that he wants to be a Spurs player - and he proved that on Wednesday.
"Paul Stalteri and Pascal Chimbonda were out and he did the job. I think he is a player for the future."
The player himself was more than happy with his cup comeback against the League One side after once again taking to the White Hart Lane stage.
"The Carling Cup obviously provides a really good experience and it was really good to be back in the frame after a couple of years.
"I've come back a bit older, more mature and I'm really enjoying it," added Philip, who admits it was not plain sailing against Vale.
"When you miss a few chances the other team always feels they've got the opportunity to stay in the game. When they got the one I thought 'oh no', then we missed a few chances to level and it could have been one of those nights.
"Once Tom put that ball in the led to the goal it went from there and we did really well. We are in the hat for the next round and hopefully the gaffer feels we did a good enough job to stay in and around it all."
Philip Ifil has signed a new contract to extend his stay at the Club.