We have searched for the decay B-0 -> phi gamma sing the full Belle data set of 772 x 10(6) B (B) over bar pairs collected at the gamma(4S) resonance with the Belle detector at the KEKB e(+)e(-) collider. No signal is observed, and we set an upper limit on the branching fraction of B(B-0 -> phi gamma) < 1.0 x 10(-7) at the 90% confidence level. This is the most stringent limit on this decay mode to date.