Modise is set to leave Sundowns when his contract expires at the end of the season as the Tshwane giants plan to bring in new blood.
The 34-year-old has enjoyed rich success since joining Downs from Orlando Pirates in January 2011, winning the CAF Champions League and Super Cup in addition to claiming numerous domestic honours.
"You have to respect Teko," says Mosimane, whose side thumped Tshwane rivals SuperSport United 5-0 on Thursday night.
"He has done exceptionally well at Sundowns and contributed so much and Sundowns has also been good to Teko. I am happy that if he retires he would say I have won international tournaments. I am happy he can do that.
"He played in a World Cup with the national team. He played in the Cup of Nations with the national team. He played in the Champions League and won. He played in the Confederations Cup and what else is missing? He ticked all the boxes, he won the Footballer of the Year twice, you should not forget that.
"I am happy that I identified that. I said that he must come to the PSL, because that quality must come to the PSL and he came to PSL when I was still at SuperSport United. Look what we have achieved together from Bafana Bafana and also here. It has been a good relationship.
"I have also given him game-time in the last two or three games but you got to always manage the legs. He is not young, playing three games in a row is always a problem."