Modric put in the corner from which Sergio Ramos scored to send Real's UEFA Champions League final with Atletico Madrid to extra-time - after which they won 4-1 to seal their 10th European crown.
The former Tottenham playmaker said signing World Cup stars Rodriguez (Colombia) and Kroos (Germany) would significantly strengthen Carlo Ancelotti's side, as they look to defend their title.
"I watched James Rodriguez and Toni Kroos play in the World Cup and, for me, they were two of the best players in the competition," Modric told Marca.
"They're great players and will only improve our team even more.
"Real Madrid have shown their ambition by bringing such fantastic signings to the club. It's great news for us, the players, because we always want to play with the best, and also for the supporters, who want to see the best players."
Modric said he was eyeing off bagging every piece of silverware on offer, with Real fighting for trophies in La Liga's pre-season including the UEFA Super Cup and the Spanish Supercopa.
"Every competition and every trophy is important at Real Madrid," the Croatia international said.
"It would be marvellous to be able to win all six [trophies], but it will be very, very tough. We'll face some very good teams on the way.
"The pressure will be the same as it always is at Real Madrid. There won't be as much as there was for La Decima, which was enormous.
"Now it'll be the logical pressure involved with being Real Madrid, because of the club's history and the fact that we're the current champions. It'll be easier after having won La Decima. I think it's our time."