With the aid of the two-dimensional tight-binding effective model in combination with effective models for perpendicular electric and magnetic fields, we describe the dynamics of carriers in Bernal bilayer phosphorene. Both electric and magnetic fields are in reliable ranges. We study the electronic phase transition beyond the continuum approximation focusing on the electronic band structure and density of states. In the present work, it is shown that the system subjected to the perpendicular electric field takes a semiconductor-semimetal phase transition with linear- and quadra-like bands along the Γ − X and Γ − Y direction, respectively when the magnetic field is absent. However, turning on the magnetic field shows again the semiconductor-semimetal phase transition for electric field-induced bilayer phosphorene but with only a linear-like band along the Γ − Y direction. Furthermore, we found that by varying the magnetic field, the Landau levels exhibit different treatments in the absence and presence of the electric field. Concisely, we argue that these tunable phase transitions with new rich features give proper motivations to experimentalists to tune the electro-optical properties of bulk phosphorus.