Forlan is having a superb World Cup with his country and has propelled them into the semi-finals with a string of excellent performances.
The Atletico Madrid striker has scored three times and claimed one assist in his five games so far, and is preparing to face Holland in the last four.
Forlan had a two-and-a-half-year spell with Manchester United that ended in 2004, but scored only ten league goals. He then moved to Villarreal before signing for Atletico Madrid in July 2007.
Since his move to Spain, the former independiente striker won the Pichichi Trophy, awarded to the top scorer in La Liga, on two occasions.
Now Spurs boss Redknapp has acknowledged he is monitoring Forlan, and his strike partner Luis Suarez.
"I like the look of the Uruguayans," Redknapp told the Sunday Express. "I think Forlan would have another two or three good years in the Premier League, but his wages could be a problem."