The Blues defender was found not guilty of a racially aggravated public order offence in last month's trial at Westminster Magistrates' Court.
However, the FA have since decided to charge Terry for the charge which he swiftly denied, and Hodgson is hoping that the whole situation can be brought to an end sooner rather than later.
"I'm not prepared to discuss John," said Hodgson initially at a press conference. "It's a matter which is really, as far as I am concerned, working for the FA, sub judice.
"Everything I say can be misinterpreted. As far as I am concerned he has a case to answer with the FA and I'll wait and see what happens.
"I'm hoping, and I make no secret of that, the case will take its course, that John, hopefully, will be freed as he was freed in a court of law, and will carry on playing for England. That's my hope. What will happen, I have no idea."
England take on Italy in Berne in a friendly on Wednesday evening.