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He finished in fourth place in the ,000 No Limit Hold'em WPT Event at the 49'er Gold Rush Bonanza in 2002, in third place in the ,000 No Limit Hold'em Event at the World Poker Finals at Foxwoods in 2003, in sixth place at the 2008 L. Poker Classic, in third place at the Bay 101 Shooting Star event in 2010, and second place in 2017 at the Bicycle Casino.

In 2010 he also was the TV bubble boy finishing seventh at the ,000 WPT World Championship.

He has eight Main Event cashes (1988, 1989, 1997, 2001, 2003, 2008, 2009, and 2015), placing him behind Berry Johnston (10), and Humberto Brenes, Doyle Brunson, and Bobby Baldwin (9). E and the ,000 Poker Player's Championship; his first-ever WSOP final table (and first-ever WSOP cash) was in Seven Card Stud Hi-Lo in 1988, and his second-ever WSOP final table (and third-ever WSOP cash) was in Pot Limit Omaha hold'em w/Rebuys in 1989.

Twelve of Hellmuth's fourteen bracelets have been in Texas hold'em, though he has had quite a bit of success in non-hold'em events. (His third-ever WSOP final table (and fifth-ever WSOP cash) was his Main Event victory in 1989.) Of those 22 events, Hellmuth has finished runner-up six times.

He is the winner of the Main Event of the 1989 World Series of Poker (WSOP) Hellmuth was born in Madison, Wisconsin and attended Madison West High School before moving on to the University of Wisconsin–Madison for three years, where he dropped out to become a full-time poker player.

Since 1992, he has lived in Palo Alto, California with his wife, Katherine Sanborn, who is a psychiatrist at Stanford University, and their two sons, Phillip III and Nicholas.

Hellmuth's sponsor arranged for him to arrive at the 2007 WSOP Main Event in a race car.Hellmuth makes regular appearances on episodes of Poker After Dark, both as a player and as a drop-in commentator.Hellmuth won his first Poker After Dark tournament in the first episode of the third season, winning 0,000.In the 2011 World Series of Poker, Phil finished second in three tournaments, in the 2-7 Draw Lowball Championship, the Seven Card Stud Hi-Low Split-8 or Better Championship, and The Poker Player's Championship eight-game mix.On June 11, 2012, Hellmuth won his 12th World Series of Poker bracelet in the ,500 Seven-Card Razz event, defeating Don Zewin and earning 2,793.

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