Zachary Phelps (July 17, 1857 - August 29, 1901) was an American Major League Baseball executive who served as a principal shareholder, front office executive and president of the Louisville Colonels of the American Association from 1884 to 1889.

Phelps, along with his brother, John, and William Jackson, purchased the Louisville Colonels following the 1883 season.

He became club president in 1885 and was elected chairman of the American Association in December 1886.

[4] In June 1888, he sold his remaining shares of the club to Mordecai Davidson.

He died in Louisville in 1901, and is buried near former Colonel Pete Browning in Cave Hill Cemetery.