Phillips joined the club in May 2018 as joint-manager with Steve Halford, before taking sole charge in February 2019.
A club statement said: “It is with great regret that Buxton Football Club has today accepted the resignation of First Team manager Paul Philips. Paul feels that his departure is in the best interest of the club.
“Last season he was successful in taking us to the Premier Division play-offs for the first time in eleven years but he is bitterly disappointed that the team has been unable to build on this achievement.
His last game in charge was Saturday’s 2-0 defeat at Stalybridge Celtic, which left the Bucks in the relegation zone.
Chairman David Hopkins added: “The Board and I are sad to see Paul leave the club, he has been totally committed to the cause and incredibly hard working not only with the First Team but also with our newly formed Academy.
“We part on the best of terms and wish Paul every success in his ongoing football career.”
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