The former Pompey keeper believes fans need to make a stand when they hear any kind of racist chanting at games.
Hislop insisted it’s no longer acceptable to stay silent when in the face of any discriminatory behaviour.
The Trinidad and Tobago international made 100 appearances across three years at Fratton Park, helping Harry Redknapp’s men reach the Premier League.
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Hislop is now taking a forthright position on the racism debate, not only in football but across wider society.
And he told BBC 5 Live Sport it’s time for the game from fans to governing bodies to take action.
He said: ‘We need to lead. I wouldn’t say things are getting worse but in many respects it’s getting louder.
‘We also have to recognise the time of the silent majority needs to be over.
‘It’s no longer good enough to sit by, hear racist chanting and be comfortable in saying “I didn’t participate so I’m okay”.
‘You now have to speak up about it and make your own voice heard in countering that and raising the issue with authorities and taking action.
‘Football at its highest levels also has its responsibility.
‘As we speak today you are far more likely to get a hefty fine for financial fair play disputes than you are for racist chanting in your stadiums.
‘Our football leadership has to do a better job in addressing those discrepancies as well.’