Phillips and Wild joined the club in January 2020 following the exit of Steve Kittrick from the managerial hot seat.
Chairman Bryn Apperley said: “I’m absolutely delighted Paul and Dave are on contract with us for they’re doing a tremendous job and have really become firmly integrated in what we’re trying to achieve here at Matlock Town.
“They’re workaholics and they’ve assembled a group of players who are showing a winning mentality and the desire to do the club proud.
“So it’s fabulous news and they fully deserve our backing and the belief we have in them.”
It is the first time the Gladiators have placed a manager on contract since Imre Varadi was in charge for a year back in the mid 1990’s.
Phillips added: “We’ve got a lot of lads tied to the club and the contract shows the club have faith in what we’re doing, it ensures we have continuity and stability.
“Now it is up to Dave and myself to repay the club for that faith and belief and I can assure everyone we’ll be working damned hard to bring success to the football club.
“It’s very humbling to be honest but I feel we’re all going in the right direction.
“The aim now is to be in the mix for promotion, the club has been in the lower reaches of the table for far too long for a club of this stature.
“I want people to be proud of us on the pitch just as they are with what’s happening off it.”
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