The Golden Ball award is presented to the best player at each FIFA World Cup finals.
Modric started in Croatia's all six games at the World Cup so far. The 32-year-old Real Madrid player was named the man of the match three times and has scored two goals at the tournament.
"Modric is a very mobile player, he has a great technique base… He has a great influence on his team. Croatia are playing as a whole team. Modric can join an attacking play as well as in defense at any time," France head coach Didier Deschamps told journalists ahead of the game.
On Sunday, France beat Croatia 4-2 in the final at Moscow's Luzhniki Stadium to lift their second World Cup trophy.
Croatia's previous best result was their third place at the 1998 World Cup.