Phillips has kept three successive clean sheets to help Charlton secure seven points from their first three games back in their fight to stay in the Championship.
Charlton midfielder Darren Pratley said last week that Phillips is the best goalkeeper in the division and he made an superb save to earn his side a 0-0 draw at Cardiff on Tuesday.
Bowyer has revealed goalkeeping coach Andy Marshall has helped Phillips get into the best physical shape of his life and feels that has helped take his game to a new level.
Ahead of Friday’s south London derby against Millwall, Bowyer said: “Dillon has done well. He was an unknown last season really, he got his opportunity when he did not think he would and he grabbed it. The one thing I have said to Dillon is if he plays well he will keep on playing. And he has done that.
“This season, again it was unknown for him going up another division and another level, and again he has stepped up. Is Dillon the finished article? No. There are things he still needs to improve but he has been exceptional for us.
“Andy Marshall has done a great job on him. He has been on at him and on at him to lose weight. If there was one thing Marsh did not like with Dillon when he turned up was how much weight he was carrying. He has lost a hell of a lot of weight, in this lockdown even more so. He has worked really hard.
“He made a save against Cardiff the other evening, I do not think he would have made it if he was that goalie who was overweight. He got down low really quick and is more nimble now. That is a big thing, you have to be nimble in the goal.”
Charlton host Millwall on Friday night looking to continue their good form since the restart.
The Addicks have taken seven points from their first three games back, kept three clean sheets and a win tonight would take them six points clear of the bottom three.
Charlton are bidding to end a 24-year wait for victory over their south London rivals. The last time Charlton beat Millwall was in 1996, when manager Lee Bowyer scored in a 2-0 win at the Valley.
Charlton’s survival bid could get an unexpected boost after Wigan went into administration to leave them facing a 12-point deduction that was drop them into the relegation zone.
But Bowyer says he does not think it is right if clubs are punished for matters off the pitch.
Bowyer said: “I am disappointment for them. I do not think it is fair. The manager, the players and the fans are going to suffer. I texted their manager Paul Cook and said, ‘I am sorry to hear the news and you do not deserve that’. He has done well there and through no fault of his own they probably going to be put into the bottom three.
“It could be a benefit to a lot of teams but I would rather it not happen in that way. I said it before when they were talking about point-per-game, that would not be the right way to decide the league. It is not nice to see a club pushed down there.
“It makes our situation maybe slightly easier you could say, that is same for all of the teams down there. But the most important thing for me is I concentrate on us.”