Stevens, 40, was with the Phantoms as a defenseman or coach from their inception in 1996 to last June, when he was named a Flyers assistant coach. He was named the Flyers head coach in October.
Stevens was the captain when the Phantoms won the Calder Cup in 1998 and head coach when they won the Cup in 2005.
"To me that's a great honor bestowed upon me by a great organization," Stevens said. "I was certainly very happy to hear the news, and I'm really flattered. It's amazing that the Phantoms have established such a great tradition in such a short time. To look back and see what they've done and the rivalries they've created, I just feel very fortunate to be a part of the organization for 10 years."