The actor and screenwriter has signed an exclusive contract with the streaming service to create and produce shows for their platform.
Phoebe has already worked with Amazon as they co-produced Fleabag alongside the BBC, with the show distributed in over 200 countries on Prime Video.
Of the new deal, Phoebe said in a statement: “I’m insanely excited to be continuing my relationship with Amazon. Working with the team on Fleabag was the creative partnership dreams are made of. It really feels like home. I can’t wait to get going.”
Head of Amazon Studios Jennifer Salke added: “We are thrilled to be continuing our partnership with Phoebe. As evident in her great success at the Emmy Awards this week, she is clever, brilliant, generous and a virtuoso on multiple fronts including writing, acting and producing.
“Fleabag has been a gift to our Prime Video customers and we are excited for what comes next from this brilliant mind to dazzle and delight our global audience.”
According to Variety, the deal is said to be worth $20m (£16m) a year.
News of Phoebe’s partnership with the streaming service tops off quite a week for the star.
She took home three Emmy Awards on Sunday night for Fleabag, including Best Lead Actress in a Comedy Series, Best Writing for a Comedy Series and Best Comedy Series.
There was also success for Killing Eve, which she created and produced, with its star Jodie Comer winning Best Lead Actress in a Drama Series for her role as assassin Villanelle.
Phoebe has also been busy working on the new James Bond film, No Time To Die, after being brought in as a writer to make the female characters feel “more real”.