The Croatian was the subject of a £40 million bid from Chelsea last summer but his national team boss believes he should remain with Spurs, despite the Blues' renewed interest
The 26-year-old midfielder was the subject of a £40 million bid from Chelsea last summer which was rebuffed by Spurs chairman Daniel Levy.
However, the Blues are reportedly still interested in signing the playmaker following their failure to compete for the Premier League title this term.
But Bilic believes Modric can have a hugely successful career at White Hart Lane and does not need to secure a move away to further enhance his reputation.
The former West Ham man told The Sun: "I have spoken with Luka and I will respect whatever he decides to do. But I did say to him he's already at a massive club at Tottenham.
"Everyone knows huge clubs are interested in Luka but what I said was he should not forget how big Tottenham are.
"Glenn Hoddle and Chris Waddle spent many years here and are proud to have played for this club.
"If he decides to leave then Luka should do it for the right reasons."
Modric has scored three goals and grabbed five assists in 29 games this season, helping Harry Redknapp’s side maintain their push for a Champions League place.