Dr. Phil Megison was born in New Orleans, Louisana. He graduated from First Baptist High School in Shreveport, Louisana in 1975. He attended Louisiana State University for his undergraduate studies, obtaining a B.S. in Microbiology in 1979. During his time at LSU he was a member of the honor society and Sigma Chi fraternity. He remained at LSU for his medical school training and was awarded his MD in 1983.

He performed his surgical internship at LSU Medical Center in Shreveport in 1985. He was accepted into the University of Texas Southwestern Neurosurgical Residency program at Parkland hospital, where he completed his formal neurosurgical residency training in 1989. During his residency he traveled abroad to Australia for a vascular and oncology fellowship at the Royal Melbourne Hospital.