Information released on social media and on the Flying Nun Records website yesterday said the new double album, titled Spring Board: The Early Unrecorded Songs, was a posthumous collection of 20 archival recordings and song fragments that Phillipps had been working to complete before his death in July, aged 61.
Phillipps had been planning the album for about two decades and some of the songs were started almost 40 years ago.
A track list shows the last song on the double album is I Don’t Want to Live Forever, the same song played at his funeral.
The album features contributions from prominent New Zealand musicians, including Julia Deans, Elroy Finn, Neil Finn, Hollie Fullbrook, Troy Kingi, Shona Laing, Tami Neilson, Dianne Swann and Clementine Valentine.
The album has been described by its promoter as "a Martin Phillipps passion project" and a dedicated reimagining of his earlier unreleased songs.
"Spring Board: The Early Unrecorded Songs is alarming, personal, brittle and at times hopelessly upbeat," the Flying Nun Records website said.
"This is a man casting his mind back on an esoteric career that led to nothing short of cult status — someone rediscovering his roots, his innermost thoughts, hopes and fears.
"It has become his artistic farewell, a lasting legacy, and a reminder of his huge, underappreciated talent and immeasurably significant output."
The album was being finalised for release "with the love and support of his band, family and friends", the website said.
It is scheduled for release on February 28.
