Phantom perception refers to the conscious awareness of a percept in the absence of an external stimulus. On the basis of basic neuroscience on perception and clinical research in phantom pain and phantom sound, we propose a working model for their origin. Sensory deafferentation results in high-frequency, gamma band, synchronized neuronal activity in the sensory cortex. This activity becomes a conscious percept only if it is connected to larger coactivated "(self-)awareness" and "salience" brain networks. Through the involvement of learning mechanisms, the phantom percept becomes associated to distress, which in turn is reflected by a simultaneously coactivated nonspecific distress network consisting of the anterior cingulate cortex, anterior insula, and amygdala. Memory mechanisms play a role in the persistence of the awareness of the phantom percept, as well as in the reinforcement of the associated distress. Thus, different dynamic overlapping brain networks should be considered as targets for the treatment of this disorder.A fundamental concept in psychology and philosophy of the mind is the notion of perception: The act of interpreting and organizing a sensory stimulus to produce a meaningful experience of the world and of oneself. A stimulus produces an effect on the different sensory receptors, inducing sensation. Further processing of this sensory stimulation generates an internal representation of the outer and inner world called a percept. Since the first days of psychology, two challenging questions have existed: How is sensory information encoded and, in particular, how is this represented information transformed into the individual awareness of a conscious percept (1)? Our understanding of sensory encoding, perception, and consciousness is challenged with a further degree of complexity in the case of phantom perception, the conscious awareness of a percept in the absence of an external stimulus. Deciphering the underlying neural correlates of phantom perception is a scientific endeavor that will aid in understanding the active processes of selecting, organizing, and interpreting information, which ultimately lead to the formation of a conscious percept within the brain.Although some cases of phantom percepts have been described for the visual, olfactory, and gustatory systems, the vast majority of sensory phantoms are those present in the somatosensory (phantom limb perception/phantom limb pain and neuropathic pain) (2) and auditory (tinnitus) (3) modalities. Upfront we are challenged with the following questions: In the absence of an external sensory stimulus, where and how in the brain is the conscious percept generated? In addition, are the neural substrates underlying the generation of a conscious phantom percept similar for the auditory and somatosensory modalities? If so, can we advance in our understanding and treatment of tinnitus on the basis of what is known for phantom limb and phantom pain perception and vice versa? Here, we address these questions and propose a working model of how pha...