Phoenix first appears in the second clip dressed as the Joker in a red and yellow suit dancing manically on a set of stairs.
The third short shows him as the supposedly mild mannered Arthur Fleck - a down-on-his-luck clown comedian from Gotham - in an apartment kitchen, climbing into and sitting down inside a refrigerator.
The fourth clip features Phoenix in full Joker make-up as a menacing grin appears on his face, and the fifth shows his character mysteriously sprinting through an underpass, before the final scene captures Fleck walking through the pouring rain.
Fans were quick to take notice of brief flashes of text that appear in each clip, which when put together reads: "TRAILER 8.28"
The initial teaser trailer was unveiled back in April, but fans are now anticipating a more in-depth follow-up to be revealed within the next 24 hours.
Fans are super excited to see what Phillips does with the project, which is not connected to Christopher Nolan's hugely popular Dark Knight Batman franchise, and is the start of a new origin story about how the Joker became the Clown Prince of Crime.
Phoenix is the latest in a long list of actors to take on the role of the Joker, including the late Heath Ledger in Nolan's The Dark Knight, and Jared Leto in Suicide Squad.
Phoenix's Joker appears more in tune with Ledger's disturbing depiction, although his costuming looks inspired by Cesar Romero's classic 1960's Batman version.
It all looks fantastically creepy and we can't wait to see more.
