The north London club are going through a squad revamp under new coach Andre Villas-Boas, with the Portuguese head coach looking to add young prospects to his contingent.
The White Hart Lane side are believed to be one of the Premier League clubs that will look to add further players in the new year, with the Bundesliga star on a number of managers’ wishlist.
Herrmann played a key role in leading Mönchengladbach to third place in the German top flight last season against the odds, with the side qualifying for the Champions League unexpectedly after being close to relegation the season before.
The box-to-box midfielder has represented Germany from under-16 to under-21 level; he has played six times for the under 21s.
Herrmann has an eye for goal and has scored 10 goals for Mönchengladbach in 56 games since making his first-team debut for the club in 2010.
It is believed that Inter are also keen on the young German, with Herrmann valued at around £7.5 million.
Mönchengladbach have lost some of their key players since impressing last term, with Dante and Marco Reus joining Bayern Munich and Borussia Dortmund in the summer respectively.
It is thought that a move to one of the major European leagues would be too good an opportunity to turn down for Herrmann, while the club are realistic that a move to a bigger club cannot be avoided.
Spurs are still looking to bolster their midfield options after Luka Modric left for Real Madrid in the summer.