Liverpool will travel to Spain today ahead of the first leg of their clash with Los Blancos, which takes place at Estadio Alfredo Di Stefano on Tuesday night.
The meeting between two of the previous three winners of the competition will then conclude when Real visit Anfield next Wednesday.
Phillips, who made his Champions League debut in the last round as the Reds eliminated RB Leipzig, knows a formidable opponent stands in their way to the semi-finals.
But the 24-year-old believes the most effective approach will be to block out the circumstances as he aims to help Jürgen Klopp’s side progress again.