Philip Wharton, 3rd Baron Wharton (1555–1625) was an English peer of the Wharton barony.
Wharton was named after his godfather, Philip II of Spain. He inherited the title of Baron when he was 17 years old. Notable in his life was his entertaining King James in 1617 which, as was common in those days, nearly bankrupted him. In 1618 his debts amounted to £16,713 on an annual income of £2,107.
Wharton died in 1625 and was buried at Healaugh.
Wharton was married three times, first to Frances Clifford, second daughter of Henry Clifford, 2nd Earl of Cumberland, in 1577. She died in 1592 and in 1597 he married to Dorothy Colby. He was married a third time after 1602. He had two sons, Sir George who married Lady Anne Manners, daughter of John Manners, 4th Earl of Rutland, and was killed in a duel without issue, and Thomas of Aske who died in 1622. Therefore, neither son inherited the barony which was passed to Philip, the eldest son of Sir Thomas.