Phelps has primarily pitched out of New York's bullpen this season, but was a starter his entire Minor League career, and has made three starts in 2012.
"Hopefully go out there and learn from what I did last time and give us a chance to win," said Phelps, when asked what his plan against Texas was. "It's a huge series."
Phelps last started against the Rays on July 4, and he believes that he could give the Yankees 75-80 pitches.
Manager Joe Girardi said he will talk to pitching coach Larry Rothschild and make a determination about the exact number they are targeting Monday.
"I would think he would be able to give us [75-80]," Girardi said.
Phelps has faced the Rangers once this season, pitching 2 1/3 innings of relief in a 7-3 loss back in April in Arlington. He was charged with three of those runs, and surrendered a pair of solo homers to Mike Napoli and Mitch Moreland.
But now Phelps will get to attack the Rangers from the first pitch, and said there is a big difference between starting and relieving.
"When I go out there as a starter, I know that I'm out there for more than one or two innings. Well, I'm supposed to be out there for more than one or two innings," Phelps said. "So I kind of plan my game a little differently than just worrying about just the next hitter. I can manage the lineup a little differently."
The 25-year-old said he has learned a lot about himself throughout the season. One of the biggest things has been the confidence he has gained pitching at the Major League level.
"I have learned that I'm capable of doing more than starting," Phelps said. "I hadn't done it [relieving] in the Minor Leagues, and I have proven to myself that I can be more than just a starter. I think I have just made myself a little more versatile.
"I have proven to myself that I can get big league hitters out. Whether it was Spring Training or during the season, I have made a lot of strides."
The right-hander has appeared in 22 games this season and is 2-3 with a 2.42 ERA over 52 innings.