The north London side suffered a 1-0 loss to second-placed Leicester City at White Hart Lane on Wednesday night following Robert Huth’s late winner.
Mauricio Pochettino’s side still occupy fourth place despite their setback, but Spurs are only a point ahead of in-form West Ham United and two points clear of Manchester United.
However, former Liverpool midfielder Hamann, who won the Champions League in 2005, is still backing Tottenham to secure a place in Europe’s premier club competition.
Hamann told BBC Sport: “It’s a blip. They’re still in a very good position. They’re still favourites to finish in the top four.”
Tottenham have only lost to Manchester United, Newcastle United and Leicester in the Premier League so far this season.
Pochettino’s side are six points behind Premier League leaders Arsenal and second-placed Leicester ahead of Saturday’s game against Sunderland.
Spurs host Leicester in their FA Cup third-round replay at King Power Stadium on Wednesday night.
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