The 22-year-old made the permanent move to the Championship from Aston Villa last year, having previously spent time on loan with Stoke City and Cardiff City in the second tier.
Philogene failed to make the grade at Aston Villa, only making six senior appearances for the club, but he has taken the Championship by storm with the Tigers, having a direct hand in 14 goals in 20 appearances.
Philogene has struck eight goals while laying on six assists in the 2023-24 second-tier season, excelling on both the left and right wing for Liam Rosenior's side, who currently sit in the playoff positions.
The 2002-born winger has also earned three caps for England's Under-21s on account of his performances in the Championship, and his debut for the Young Lions saw him score two goals and set up one more in a 9-1 demolition of Serbia in October.
Hull have Philogene under contract until 2026 with the option of a further 12 months, but their chances of retaining his services will be slim if they fail to earn promotion to the Premier League for 2024-25.
According to TEAMtalk, Champions League-chasing Tottenham have been running the rule over the former Aston Villa youngster in the past few months and are now leading the race to bring him back to the top flight.
The report states that the Lilywhites have been conducting regular checks on the England Under-21 international, who fits the bill in terms of what Ange Postecoglou is looking for from his wide men.
Aston Villa - who received just £5m for the attacker's sale last summer - did shake hands on a buyback clause with Hull, but the Lions can only take up their option under certain circumstances.
The Tigers must be promoted to the Premier League for Philogene's £15m buyback clause to become active, and Hull vice-chairman Tan Kesler confirmed to fans last September that Aston Villa must also match or better any offers from other teams.
Tottenham added to their wide ranks last summer with the permanent signings of Manor Solomon and Brennan Johnson, before prising Timo Werner away from RB Leipzig on loan in January.
Solomon has spent the past few months on the sidelines with a knee injury, though, and it remains unclear whether Tottenham will pursue a permanent deal for Werner, who has shown glimpses of promise in his first few weeks back in the Premier League.
The Lilywhites will also be in the market for new wide men if Son Heung-min and Bryan Gil both leave the club, the former being out of contract in 2025 and apparently a target for Saudi Pro League champions Al-Ittihad.
Son will also turn 32 in July, but Tottenham apparently have no intention of entertaining summer bids for their captain, who has 12 goals and six assists under his belt from 22 Premier League games in 2023-24.
Postecoglou's side - who sit fifth in the Premier League rankings, five points behind Philogene's former club Aston Villa with a game in hand - return from a two-week break at home to London rivals Crystal Palace on Saturday.