Bale is pushing to leave Spurs for Real Madrid.
"Bale has to listen to what his heart is telling him and not make a move that is bad for him as a person," Le Tissier told the Daily Express.
"It is not such a bad option to stay and become the greatest player in a club's history. I had no regrets about doing that at Southampton and if Bale stays he will be knocking on the door of the Champions League and who knows what he could achieve at Tottenham.
"Stay there. Become a legend like Glenn Hoddle. He should at least consider that as an option. Everybody is different. My ambition when I started playing was to play for England and I achieved that.
"I never had a desire to play for the biggest team. It was beyond my wildest dreams that one day I would be considered one of the best players in the club's history.
"Other people, though, want to earn as much money as possible - after all, it is only a short career. Players might also be motivated by the desire to win things - and Gareth would certainly do that in a couple of seasons at Real Madrid."