The striker has been linked to a move to Madrid in recent weeks and helped open the scoring against them in Tuesday's 1-1 draw in the Champions League.
Kane's shot deflected in off of Raphael Varane and it was marked down as an own goal, but the 24-year-old remains in remarkable form with 11 strikes in as many games for Spurs this season.
"Now Madrid are always on the lookout for the top players," Calderon told Reuters.
"A club like Real Madrid is obliged to have important players so they can bring in new sponsors, brands and keep generating more money so they can maintain their current status. That money helps you to invest, save and invest again.
"I suppose Madrid would like to sign Kane, it depends on a few things, such as the desires of player and the coach, but without a doubt he is an outstanding player."
Calderon was president when Madrid signed Cristiano Ronaldo from Manchester United for a then-world record fee which has since been overtaken several times.
The 66-year-old believes the rising prices of star players would justify Madrid paying big money for a star like Kane.
"He would not be cheap, but when I signed Cristiano Ronaldo for £80 million everyone thought I was crazy and look where we are now," Calderon said.
"£150 million is now seen as nothing, it's normal. We no longer know what the limit is."