Phelan is a member of the Norwegian Academy of Science and Letters (2016) and has been granted an honorary PhD degree from Aarhus University in Denmark (2013).
The citation for the Award reads in part, "Phelan has influenced generations of narrative theorists and literary scholars, as he has provided a powerful model for thinking about the purposes of literature and reasons and methods to engage with it.
He collaborated with David Herman, Peter J. Rabinowitz, Brian Richardson, and Robyn Warhol on Narrative Theory: Core Concepts and Critical Debates (2012).
With Peter J. Rabinowitz, Phelan co-edited the Ohio State University Press[8] book series The Theory and Interpretation of Narrative from 1993-2019.
Along with Frederick Aldama, Brian McHale, and David Herman,[9] he founded Project Narrative,[10] an initiative at Ohio State University.