After dominating the first half and leading 1-0 at half-time thanks to Modric's thunderbolt, the outcome was in the balance at the start of the second half as Bolton equalised and went for the jugular.
But we refused to concede again and then pounced with a quickfire double from Rafa van der Vaart and Adebayor just after the hour, two goals that put us back in control.
A fourth goal created by Gareth Bale and finished expertly by Adebayor put the issue beyond doubt in the 69th minute.
Newcastle's win at Chelsea means we remain fourth, level on points with Newcastle but with a better goal difference, with two matches remaining. Chelsea stay sixth, but are now four points adrift.
It's also worth mentioning that the gap to Arsenal in third is now just one point!
Harry Redknapp stuck with the same starting line-up that beat Blackburn 2-0 on Sunday. That meant Scott Parker missed out again but Lennon was fit after taking a knock against Rovers. William Gallas captained the team.
Brad Friedel's inclusion meant another milestone for the goalkeeper, who became our oldest player at 40 years, 350 days, toppling the club record held for 89 years by Jimmy Cantrell.
It was clear from the start that Lennon and Bale would cause problems down the flanks and a couple of crosses whistled into the area without the final touch.
Bale was first to test Adam Bogdan and the Bolton goalkeeper palmed out his 20-yarder into the path of van der Vaart, but got up quickly to block the Dutchman's follow up.
Van der Vaart curled a free-kick just wide and Younes Kaboul almost converted from another set-piece.
Bolton's first threat came via Martin Petrov's low cross, inches away from Kevin Davies, but pulled back by Chris Eagles for David Ngog, Friedel out sharply to block.
Play switched back up the other end as Bogdan denied van der Vaart again in the 36th minute, but Modric's opener was seconds away.
Van der Vaart played a corner out to the Croatian, who controlled and unleashed an unstoppable shot from 25 yards into the top corner.
Bolton started to stir in the final minutes of the half and Dedryck Boyata fired their best chance over.
That momentum change continued into the second half and after a spell of pressure, the home side levelled in the 51st minute.
It all stemmed from a throw from the right, Kevin Davies flicked on and Ngog cleverly backheeled into the path of Reo-Coker, unmarked, to fire home from 10 yards.
That prompted a spell of pressure every opponent must be accustomed to at the Reebok.
The ball suddenly seemed stuck to Davies, crosses, throws and corners came into the box and you just waited for the second goal - but to the credit of our defence, it didn't come.
In fact, Bolton's best chance in this period led to us taking the lead.
Another long throw fell into the path of Eagles, who lashed just over. From the goal-kick, Modric picked up the ball centrally and released Bale down the left, he sped away and then picked the perfect cross along the ground for van der Vaart to sweep home, without breaking his stride, from 14 yards.
Less than two minutes later and it was 3-1. Modric was again involved with a delightful pass through to Lennon on the right and the winger served up the goal on a plate for Adebayor, who tapped in from six yards.
We looked dangerous on every counter-attack and the fourth goal arrived in the 69th minute as Bale picked out Adebayor's run centrally and the striker skipped around Bogdan before slotting home.
Adebayor clipped a hat-trick chance onto the roof of the net five minutes from time and it was no surprise to see Bale still charging down the left in the third minute of injury time, the final chance of the match deflected into the side-netting.
Bolton (4-4-2): Bogdan; Boyata, Wheater, Ream, Ricketts; Eagles (Miyaichi, 84), M Davies, Reo-Coker (Vela, 65), Petrov; K Davies, Ngog (Klasnic, 65). Unused subs: Jaaskelainen, Alonso, Knight, Sordell.
Spurs (4-4-1-1): Friedel; Walker, Gallas (Nelsen, 87), Kaboul, Rose; Lennon (Saha, 84), Modric, Sandro, Bale; Van der Vaart (Livermore, 79); Adebayor. Unused subs: Cudicini, King, Giovani, Defoe.
Goals: Bolton - Reo-Coker (51). Spurs - Modric (37), Adebayor (62, 69), van der Vaart (60).
Referee: Mr M Dean.