Spurs are big favourites to win their replay with the Welsh side on Wednesday night, and Hill has acknowledged that the club are looking for the financial reward which would come from hosting the Premier League side.
The 48-year-old is quoted by BBC Sport as saying: "The finance is the stand-out reward - it's a chance to dream and a chance to play against Premier League opposition if Spurs beat Newport.
"My head says let's play Newport, who we would respect, but my heart says let's play Tottenham. We would have to play at our very, very best and they would have to have an off day for us to have any chance, but that's the dream."
BBC One will televise Rochdale's next game in the competition, while they also face the prospect of a sell-out crowd at Spotland, which has a capacity of just over 10,000.