The black and white image, in which both stars can be seen smiling with their eyes closed, was captured as part of the mental health charity Mind's Take A Moment campaign.
The virtual exhibition features over 250 famous faces that have been photographed by Ray Burmiston over the years, and hopes to encourage us all to take a moment for ourselves.
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Holly, who rested her head on Phillip's shoulder in the image, explained in her caption: "We took a moment for @mindcharity with the brilliant Ray Burmiston."
Holly shared the photo on Instagram
It wasn't long before the famous mum's photo was flooded with sweet comments, many pointing out how special the bond she and Phillip share is.
"You two have such a wonderful connection, it is lovely to see. You brighten up my morning most days," wrote one social media user.
"This is such amazing picture! It speaks a thousand words. I love you two so much! You have brightened up my day on so many occasions! Thank you for being you and for sharing your beautiful energy with the world," added another, with a third gushing: "You two are my most favourite people, love you guys on This Morning."
The famous pair are very close
Other celebrities to take part in the campaign include Fearne Cotton, Stephen Fry, James Cordon and Ant and Dec.
Photographer Ray explained on the exhibition's website that he hopes "it will expand from hundreds of photos to thousands of photos and promote the message: 'we're all in this together', whilst raising vital funds and awareness for leading UK mental health charity, Mind".
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