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Finding the solution of the absolute value equation (AVE) A x − | x | = b has attracted much attention in recent years. In this paper, we propose a relaxed nonlinear PHSS-like iterative method, which is more efficient than the Picard-HSS iterative method for the AVE, and is a generalization of the nonlinear HSS-like iteration method for the AVE. By using the theory of nonsmooth analysis, we prove the convergence of the relaxed nonlinear PHSS-like iterative method for the AVE. Numerical experiments are given to demonstrate the feasibility, robustness and effectiveness of the relaxed nonlinear HSS-like method. [ABSTRACT FROM AUTHOR]