Proteasomes undergo dynamic nucleocytoplasmic translocation and phase transitions in response to glucose starvation. AMP-activated protein kinase (AMPK) is important for cytoplasmic proteasome condensate dissolution and proteasome nuclear reentry in budding yeast cells upon glucose refeeding of quiescent cells. This study demonstrates that AMPK interacts with proteasomes, and the AMPK pathway regulates proteasome phosphorylation status and condensate solubility during reversible proteasome condensate formation. AMPK and the PP1 phosphatase dynamically regulate phosphorylation of multiple proteasome subunits. Therefore, the regulation of proteasome phosphorylation by AMPK is likely to be central to proteasome biomolecular condensate formation and dissolution.