The perceptual effect of the phase information in speech has been studied by auditory subjective tests. On the condition that the phase spectrum in speech is changed while amplitude spectrum is unchanged, the tests show that: (1) If the envelop of the reconstructed speech signal is unchanged, there is indistinctive auditory perception between the original speech and the reconstructed speech; (2) The auditory perception effect of the reconstructed speech mainly lies on the amplitude of the derivative of the additive phase; (3) td is the maximum relative time shift between different frequency components of the reconstructed speech signal. The speech quality is excellent while td <10ms; good while 10ms< td <20ms; common while 20ms< td <35ms, and poor while td >35ms. The perceptual effect of the phase information in speech has been studied by auditory subjective tests. On the condition that the phase spectrum in speech is changing while amplitude spectrum is unchanged, the tests show that: (1) If the envelop of the reconstructed speech signal is unchanged, there is indistinctive auditory perception between the original speech and the reconstructed speech; (2) The auditory perception effect of the reconstructed speech mainly lies on the amplitude of the derivative of the additive phase; (3) td is the maximum relative time good while 10ms 35ms.