This was enough for the Chicago management to take another look at him and in the 1964-65 season he was recalled to the Black Hawks where he remained for 3 seasons. Espo's production for those three years was not stellar but yet he did manage to notch 55, 53 and 61 points in the 1964-65, 1965-66 and 1966-67 seasons respectively.

On May 15, 1967, Esposito, Ken Hodge and Fred Stanfield were traded to Boston for Gilles Marotte, Pit Martin, and Jack Norris. Many books have referred to this trade as one of the most lopsided trades in NHL history. It wasn't the first and it certainly won't be the last, but nonetheless it is still noted. It didn't take Esposito long to establish himself as an up and coming superstar. In his first season with the Bruins he netted 35 goals, and a league leading 49 assists for an 84 points in 74 games. Phil was also runner up behind his former teammate Stan Mikita for the scoring championship. The next year was Esposito's turn to step into the spotlight. In the 1968-69 season, Esposito once again led the league in assists(77) as he became the first player in NHL history to score 100 points in a single season. The feat happened on March 2nd, 1969, but Phil went on to end up the season with an astounding 126 points. He also led the league in the playoffs for goals(8), assists(10) and points(18). That year Phil won the Art Ross Trophy as well as the Hart Trophy.

The following year saw Espo finish the season with 99 points and led the league in goals with 43. He also led the league during the playoffs in goals(13), assists(14) and points(27) as he helped the Bruins to their first Stanley Cup in 29 years. 1970-71 saw Phil rewrite the record books as he led the league and established a new record for goals(76) and points(152). Gretzky would later break both of Esposito's records in the early eighties. Phil capped off the 1971-72 season once again leading the league in goals with 66 and in points with 133 and winning the Art Ross Trophy for a third time. Esposito was also a member of Team Canada and is well known for his emotional speech after the 4th game which obviously helped inspire Team Canada to victory. In 1973-74, Phil had added his 5th Art Ross Trophy to his collection as well as his second Hart Trophy, and again led the league in total points with 145.

On November 7th, 1975, Phil once again found himself in the middle of another multi-player deal as he was dealt to the New York Rangers along with Carol Vadnais for Brad Park, Jean Ratelle, and Joe Zanussi. Phil's career was winding down and until his retirement in 1980-81 he still managed to lead the Rangers in scoring 4 years in a row, and help them reach the Stanley Cup finals in 1979.

After retiring from active play, Phil served as General Manager and Head Coach for the New York Rangers in 1986-87 and again in 1988-89. He later moved to the Tampa Bay Lightning and served as their first General Manager. Among his accomplishments, Esposito still holds the Boston Bruin records for; Most Goals in a Season(76), Most Points in a Season(152), Most Points for a Centre in a Season(152) and shares the record for Most Points in a Game(7). Boston retired his Number 7. Esposito is the only player to lead the league in scoring for 6 consecutive seasons. At the end of the 1998-99 season Phil was 4th on the All Time Goal Scoring List with 717, and 5th on the All Time Point Leaders with 1590. On top of all that, Phil was elected to the 2nd NHL All Star Team twice, to the NHL First All Star Team 6 consecutive times, won the Art Ross Trophy 5 times, the Hart Trophy twice, the Lester B. Pearson Award twice, the Lester Patrick Trophy once, and played in 10 All Star Games.