We introduce a magnetic-flux-tunable phase shifter for propagating microwave photons, based on three equidistant superconducting quantum interference devices (SQUIDs) on a transmission line. We experimentally implement the phase shifter and demonstrate that it produces a broad range of phase shifts and full transmission within the experimental uncertainty. Together with previously demonstrated beam splitters, this phase shifter can be utilized to implement arbitrary single-qubit gates for qubits based on propagating microwave photons. These results complement previous demonstrations of on-demand single-photon sources and detectors, and hence assist in the pursuit of an all-microwave quantum computer based on propagating photons.