Hodgson himself has admitted that competition at left-back is fierce, adding that he would "not be concerned" if Cole were unavailable for selection.
"From an England perspective, I'm still very happy to consider Ashley Cole as a potential English left-back," The Mirror quotes Hodgson as saying. "But as you know the competition for that spot is particularly fierce.
"Baines is also playing well and on top of that we have Gibbs and Shaw - two younger players but who I think can definitely put these more senior ones under some pressure.
"I would definitely not be concerned, if there were no Ashley Cole or Leighton Baines, about Gibbs or Shaw playing."
Cole is expected to win his 106th international cap during tomorrow's friendly against Chile.