Pearce is anxious to use the best players available to ensure England qualify for the finals in Israel next summer, and will seek permission to use Chamberlain and Jack Butland from Hodgson.
He said: "There will be discussions between myself and Roy. As it always is, it will be down to the form of the players.
"Oxlade-Chamberlain is with the seniors and so is Jack Butland. If they play well they stay in the seniors. That is how it works.
"If somewhere down the line the England manager says, 'I'm not going to use this player or that player and he could be of use to you', fine."
Pearce's side will top their qualifying group if they avoid defeat to Norway in Chesterfield on Monday night.