The Croatia boss has urged Modric - who has been linked with a move away from White Hart Lane - to leave for the right reasons, but to remember great players have had successful careers at the club.
Manchester City boss Roberto Mancini has signalled his interest a year after the north Londoners successfully resisted the challenge from Chelsea to retain the services of their midfielder.
Luk at me! Modric is likely to be the subject of interest this summer
? 'I have spoken with Luka and I will respect whatever he decides to do,' Bilic said in The Sun after watching Modric in action during the 3-1 victory over Swansea on Sunday.
'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.'
Tottenham manager Harry Redknapp has admitted that the Etihad Stadium club's money could pose a problem in his side's quest to keep their influential playmaker.
City boss Roberto Mancini was quoted as saying: 'It is by no means easy to get him because he plays for a big club. Luka Modric is an outstanding footballer, definitely one of the best in the Premier League.'
Source: Daily Mail
Source: Daily Mail