Sir Philip Stephens, 1st Baronet (11 October 1723 – 20 November 1809) was First Secretary of the Admiralty in the late 18th century and later a Lord Commissioner of the British Admiralty between 1795 and 1806. A friend of Captain James Cook, the Pacific atoll of Caroline Island is named for his daughter.
He was the last Member of Parliament to have served under George II.
Philip Stephens was descended from a family settled for many generations at Eastington in Gloucestershire. He was the youngest son of Nathaniel Stephens, rector of Alphamstone in Essex, and was born there. He was educated at the free school at Harwich, and at an early age obtained an appointment as clerk in the navy victualling office, as his eldest brother, Tyringham Stephens, had previously done.
After his return from his voyage round the world, Rear-admiral George Anson (afterwards Lord Anson) took notice of young Stephens, and had him moved to the admiralty. Stephens afterwards served as Anson's secretary, and was appointed assistant secretary of the admiralty. In 1763 he became secretary, and so continued for upwards of thirty years. He was elected a Fellow of the Royal Society on 6 June 1771, and from 1768 to 1806 he represented Sandwich in the House of Commons, eventually becoming Father of the House.
In 1795 he applied for permission to resign his office at the admiralty, and was then, 17 March, created a baronet and appointed one of the lords of the admiralty. By a special recommendation on 15 October 1806 Stephens, at the age of eighty-one, was granted a pension of £1,600, which he enjoyed till his death on 20 November 1809. He was buried in Fulham church.