The 17-year-old has been receiving treatment following an accidental fall on March 14 and was in intensive care for 13 days.
He was later moved to a high dependency unit where he improved on a daily basis but his condition always remained serious during this time.
But now specialists have deemed Modeste, who can play as a defender or midfielder, to be well enough to be discharged from hospital.
A Tottenham statement read: "Oliver's family has asked the club to once again convey their thanks to everyone for all the messages of support they have received and for continuing to respect their privacy at this time.
"Everybody at the club continues to send their best wishes to Oliver and his family."