The Wales international has inspired Spurs to seven points out of a possible nine in the Premier League, scoring three of his side’s four goals, including a brace against Newcastle on Saturday.
Holtby, who arrived from Schalke in the January transfer window, admits Bale is a key member of André Villas-Boas’ side – but says there are other quality players at White Hart Lane.
“He’s a world-class player. What he’s producing week in, week out is fantastic and to have a player like Bale makes the difference,” said Holtby.
“But it’s not only Gareth. You have to give the credit to the others. It’s a great team. Of course he scores goals. He is perfect for us but every player in the team works hard for the club.
“You see [goalkeeper] Hugo Lloris, how he saved the chance at the end against Newcastle. The defenders put their bodies into every shot. Everyone is working really hard, that’s the key.”
Holtby started his first game at White Hart Lane as Spurs edged to a 2-1 victory over Newcastle United at the weekend.
And the German midfielder is confident the north London side can seal a top-four finish despite Arsenal’s recent improvement.
“The squad, the club, is getting bigger every time and we deserve to go into the Champions League,” he added.
“It’s a long way and a very hard route, but I think with this squad, the whole background staff, everything is there.”
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news