Phibbs, who initially arrived on a short-term deal as cover during the World Cup, had been limited to two A team games and two appearances in the LV= Cup.
However, just days after agreeing to stay until the end of the season, he has now been handed the No.9 shirt for mouth-watering encounter against Gloucester.
Summer signings Craig Mitchell and Gonzalo Camacho also come into the squad for the first time following their World Cup exploits.
Argentina winger Camacho, who won the Amlin Challenge Cup with Harlequins last season, is named in the starting XV, while Wales prop Mitchell is included on the bench.
The other changes to the Chiefs line-up sees Gareth Steenson, who scored 17 points in the 22-10 victory over Gloucester last season, preferred at fly-half, while Neil Clark and Hoani Tui come into the front-row.
Gloucester have named Mike Tindall in their starting XV for the first time this season.
The England centre came off the bench against Saracens last time out but he will now replace Henry Trinder to partner Eliota Fuimaono-Sapolu in the midfield.
The other change made by coach Bryan Redpath sees Tom Voyce start on the wing ahead of Jonny May.
Exeter: 15 Luke Arscott, 14 Gonzalo Camacho, 13 Sireli Naqelevuki, 12 Jason Shoemark, 11 Matt Jess, 10 Gareth Steenson, 9 Pat Phibbs, 1 Brett Sturgess, 2 Neil Clark, 3 Hoani Tui, 4 Tom Hayes (capt), 5 James Hanks, 6 Tom Johnson, 7 James Scaysbrook, 8 Richard Baxter>Replacements: 16 Simon Alcott, 17 Ben Moon, 18 Craig Mitchell, 19 Chris Bentley, 20 Ben White, 21 Kevin Barrett, 22 Ignacio Mieres, 23 Josh Tatupu.
Gloucester: 15 Olly Morgan, 14 Charlie Sharples, 13 Mike Tindall, 12 Eliota Fuimaono-Sapolu, 11 Tom Voyce, 10 Freddie Burns, 9 Rory Lawson, 1 Nick Wood, 2 Darren Dawidiuk, 3 Rupert Harden, 4 Will James, 5 Jim Hamilton, 6 Alasdair Strokosch,7 Akapusi Qera, 8 Luke Narraway (capt).Replacements: 16 Scott Lawson, 17 Dan Murphy, 18 Dario Chistolini, 19 Tom Savage, 20 Peter Buxton, 21 Dave Lewis, 22 Tim Taylor, 23 Henry Trinder.
Gilbert has released a new line of rugby cleats. The Gilbert Virtuo 8S is part of the exciting new product. Check it out.
The entire All Blacks apparel line has been updated for 2013/14. Check out the New Zealand All Blacks polo.
The Nike Tiempo is a solid rugby cleat and one of few styles still made from full-grain natural leather.
The Gilbert Blitz 8S rugby cleat is a great cleat at a great price of $69.99. Get a new pair of cleats today.
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Wear the crest of the British and Irish Lions on your t-shirt. A great look for the summer.
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The USA Rugby Pro Alternate rugby jersey is perfect for any fan of the Eagles. Get yours to wear during the summer Test matches.
The NEW All Blacks 2013/14 jersey has arrived at World Rugby Shop. Dare to wear the colors of the All Blacks.