In this paper, we introduce PhishLang, an open-source, lightweight Large Language Model (LLM) specifically designed for phishing website detection through contextual analysis of the website. Unlike traditional heuristic or machine learning models that rely on static features and struggle to adapt to new threats and deep learning models that are computationally intensive, our model utilizes the advanced language processing capabilities of LLMs to learn granular features that are characteristic of phishing attacks. Furthermore, PhishLang operates with minimal data preprocessing and offers performance comparable to leading deep learning tools, while being significantly faster and less resource-intensive. Over a 3.5-month testing period, PhishLang successfully identified approximately 26K phishing URLs, many of which were undetected by popular antiphishing blocklists, thus demonstrating its potential to aid current detection measures. We also evaluate PhishLang against several realistic adversarial attacks and develop six patches that make it very robust against such threats. Furthermore, we integrate PhishLang with GPT-3.5 Turbo to create \textit{explainable blocklisting} - warnings that provide users with contextual information about different features that led to a website being marked as phishing. Finally, we have open-sourced the PhishLang framework and developed a Chromium-based browser extension and URL scanner website, which implement explainable warnings for end-users.