A processor modifies memory management mode for a range of memory locations of a multilevel memory hierarchy based on changes in an application phase of an application executing at a processor. The processor monitors the application phase (e.g., computation-bound phase, input/output phase, or memory access phase) of the executing application and in response to a change in phase consults a management policy to identify a memory management mode. The processor automatically reconfigures a memory controller and other modules so that a range of memory locations of the multilevel memory hierarchy are managed according to the identified memory management mode. By changing the memory management mode for the range of memory locations according to the application phase, the processor improves processing efficiency and flexibility.