Time of flight diffraction (TOFD) is considered a reliable non-destructive testing method for the inspection of welds using a pair of single-element probes. On the other hand, ultrasonic phased array imaging has been continuously developed over the last couple of decades, and now features powerful algorithms, such as the total focusing method (TFM) and its multi-view approach to rendering detailed images of inspected parts. This article focuses on a different implementation of the TFM algorithm, relying on the coherent summation of the instantaneous signal phase. This approach presents a wide range of benefits, such as removing the need for calibration, and is highly sensitive to defect tips. This study compares the sizing and localization capabilities of the proposed method with the well-known TOFD. Both instantaneous phase algorithm and TOFD do not take advantage of the signal amplitude. Experimental tests were performed on a ¾″-thick steel sample with crack-like defects at different angles. Phase-based imaging techniques showed similar characterization capabilities as the standard TOFD method. However, the proposed method adds the benefit of generating an easy-to-interpret image that can help in localizing the defect. These results pave the way for a new characterization approach, especially in the field of automated ultrasonic testing (AUT).