A camshaft phaser is provided for varying the phase relationship between a crankshaft and a camshaft in an engine. The camshaft phaser includes a stator having lobes. A rotor is disposed within the stator includes vanes interspersed with the stator lobes to define alternating advance and retard chambers. A lock pin is provided for selective engagement with a lock pin seat for preventing relative rotation between the rotor and the stator. Pressurized oil disengages the lock pin from the seat while oil is vented for engaging the lock pin with the seat. A phase relationship control valve is coaxial with the rotor and controls the flow of oil into and out of the chambers. A lock pin control valve is coaxial with the phase relationship control valve and controls the flow of oil to and from the lock pin. The control valves are operational independent of each other.