The 27-year-old, who made his international debut for Croatia back in September, has already netted 17 times this season for a Zagreb side closing in on a 15th title in 16 years.
Five of those goals have come in the Champions League with Orsic netting a hat-trick against Atalanta and also scoring against Rosenborg and Shakhtar.
Reports emerged earlier this week in the Croatian press that Albion are interested in the forward who is believed to be valued at around £9m by his club.
But while Albion are yet to bid for the player, Bilic confirmed Orsic is someone he is interested in signing.
"Is it Croatian, is it English, British (press), there is no point in talking about the players who are not with us," Bilic said when specifically asked about Orsic.
"Orsic is a good player, of course he is a good player.
"He made his mark at Dinamo Zagreb, not only in the league but also in the Champions League.
"He has scored four or five goals in the Champions League - a hat-trick against Atalanta.
"He broke into the national team and we have a hell of a national team – not an average one, we have a good national team.
"We are interested in him, yes. Is it going to happen? Who knows, we'll see."