Sherwood took the reins at White Hart Lane in December, replacing Andre Villas-Boas, but it has been widely reported that he will be relieved of his duties when the current campaign ends.
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Speaking to talkSPORT, he said: "I do believe that they'll bring someone in and I think they'll be working behind the scenes [to find a replacement].
"If Tim was going to keep the job they'd have come out and backed him. I think they'll go foreign."
Hoddle believes that Netherlands boss Louis van Gaal was a target for Tottenham, but thinks he may now be swayed by the Manchester United job after David Moyes was sacked this week.
He added: "I think on their radar was Van Gaal, but the Manchester United job has now become available and I that could appeal to him."
Hoddle also re-iterated that he offered to take the Tottenham job until the end of the season when Villas-Boas departed, and would consider taking over if the opportunity were to arise.
He said: "Well I did speak to Tottenham, they asked for advice and I gave it to them. I said if you want me to take over until the end of the season I'd do that. That club is in my DNA, so I'd definitely look at that [if offered the job]."
Meanwhile, Sherwood insists his players will shake hands with Stoke City midfielder Charlie Adam on Saturday following reports certain members of the squad were considering refusing to do so.
Adam angered the north Londoners with a challenge on Paulinho that left the Brazilian sidelined for a month with ankle ligament damage earlier this season, having previously former winger Gareth Bale on two occasions.
"I am aware of the reports and it is nonsense," he said. "The players will do their duty and shake hands along that line to show respect to their opponents.
"I have not heard the boys talking about Charlie Adam at all. They are just concentrating on the game. I don't think it is a problem at all.
"I would hate to think every time I tackled badly the opponent would not shake my hand. I would never have had a handshake."