Hello! magazine is trumpeting its world exclusive coverage of Phillips' wedding to Canadian Autumn Kelly in this week's issue, with the coverline: "Fabulous pictures of the young royals at the fun-filled celebrations".
Among the pictures in the 100-page special are numerous shots of Prince Harry, his girlfriend Chelsey, and Prince William's partner Kate Middleton.
There are also shots showing products including vodka and champagne, which were served at the event.
However, the Daily Telegraph reports that the deal could be the last of its kind, as the Queen is going to veto any other members of her family from doing similar deals in the future for weddings, christenings and other significant occasions.
The decision to open up the wedding to Hello! magazine photographers was now considered a "serious error of judgment".
The paper reported an insider at Buckingham Palace saying: "It will never ever happen again. In hindsight it should never have happened in the first place."
Separately, the Sun reports that Prince Harry is "incensed" that pictures of him were published in the magazine.
The newspaper claims that staff working for the Royal Family were unaware that the deal with Hello! would include informal pictures at the evening reception as well as official wedding photographs.
It is not the first time that coverage of a wedding has landed Hello! in trouble. It published unauthorised shots from the wedding of Michael Douglas and Catherine Zeta-Jones, who had signed a £1m deal with rival OK!.
OK! magazine retaliated by suing, in a case that ended up before the House of Lords. Hello! was eventually found not to have breached OK!'s commercial rights in publishing the pictures.
Peter Phillips, whose sister is British horse riding champion Zara Phillips, does not undertake official engagements as a member of the Royal family nor receive any public money. He is 11th in line to the throne.
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