Phelps is retiring from professional baseball, Arden Zwelling of Sportsnet.ca reports.
Phelps is scheduled to serve as the Blue Jays' opening pitcher for the second game of Wednesday's doubleheader with the Orioles, Keegan Matheson of MLB.com reports.
Phelps walked one and struck out one in a scoreless eighth inning Thursday to record his sixth hold of the season in a win over the Rays.
Phelps allowed a hit and struck out one in a scoreless inning to earn the save in Sunday's 11-10 win over the Angels.
Phelps walked two batters and recorded only one out but still recorded his second hold of the season in Wednesday's win over the Yankees.
Phelps' contract was selected by the Blue Jays on Friday, Scott Mitchell of TSN.ca reports.
Blue Jays manager Charlie Montoyo confirmed Tuesday that Phelps (lat) is a "full go" for spring training after the right-hander recently completed a bullpen session, Scott Mitchell of TSN.ca reports.
Phelps (lat) re-signed with the Blue Jays on Monday on a minor-league contract that includes an invitation to major-league spring training.
Phelps underwent season-ending surgery on his right lat Tuesday, Keegan Matheson of MLB.com reports.
Phelps (lat) was transferred to the 60-day injured list Saturday.