The deal was reported by Todd Zolecki of MLB.com. CSNPhilly.com reporter Jim Salisbury broke the news of talks between the two sides Friday.
The Phillies announced they received minor league righthanders Jimmy Cordero and Alberto Tirado from Toronto.
Revere, 27, is batting .298 with 24 stolen bases in 2015. He led the Phillies in batting average at the time of the trade. He will likely play left field for the Blue Jays, and could possibly see time batting leadoff.
Philadelphia acquired Revere from the Minnesota Twins in 2012. He is a career .292 hitter in six MLB seasons. Revere is making $4.1 million this season, and his contract remains controllable via arbitration through 2017.
Cordero, 23, holds a 2.70 ERA and 1.20 WHIP in relief between High A and Double A this season. Tirado, 20, has a 3.23 ERA out of the bullpen in High A.
- Kayla Lombardo