The 20-year-old has been included in the Three Lions squad for their friendly international against Sweden in Stockholm on Wednesday, leading Wenger to publicly express his concern.
"I am aware of Arsene's concerns, which I fully understand as he needs to look after a player who has been out for a length of time," the Daily Mail quotes Hodgson as saying.
"But Jack is an important player for us and now he is fit and playing and available for selection, he understands we are going to put him in the squad.
"He trusts me to make certain I look after him. I have made it clear if he plays in this game it will be part of the game and won't be a case of him starting the game and playing 90 minutes, which might be a bit much for him at international level at this moment."
Wilshere himself said last week that his return to the England setup after just recovering from a long-term injury "is a bit too soon".