The 41-year-old former supermodel and entrepreneur admits she wants to get pregnant and is growing impatient.
"When I turned 40, the one thing I was not happy about is that I did not have kids," Banks toldPeople. "I'm like, 'Damn, the clock is ticking!'"
Banks, who has a new syndicated talk show called Tyra Presents FABLife and a popular cosmetics line, said motherhood has always been on her to-do list but she kept procrastinating.
"Since I was 24, I used to say every year, 'I will have kids in three years.' I kept saying it over and over again. Because my business is very entrepreneurial. I'm not for hire, so I have to do everything. I kept trying to find that time for that to happen," Banks confessed.
"When you're like, 'Okay, I'm just going to do it,' then it's not so easy as you get older."
Banks started to cry in her interview, according to People, revealing she's undergone IVF procedures in the hope of conceiving her first child.
"I've had some not happy moments with that, very traumatic moments," Banks admitted. "It's difficult as you get older. It's not something that can just happen."
However, Banks has no desire to give up trying and she'll continue to be optimistic about her chances of getting pregnant.
"I hope [for kids]. I don't just want one child. I want a litter! And I want to be the kind of mom where my child can come to me for anything," Banks told People.
Banks has been dating her boyfriend Erik Asla for about two years now. The photographer has appeared on Top Model many times in the show's 22-season history.